Bitcoin mining company Riot Platforms, which trades on Nasdaq, has announced its largest ASIC purchase to date, securing 66,560 units of Microbt’s latest Whatsminer M66S miners. Riot said the deal is valued at $290.5 million and is expected to add 18 EH/s to the company’s mining capacity.
Record ASIC order deepens Riot’s expansion
According to the company, the transaction was completed at an average price of roughly $16 per terahash. The newly ordered Whatsminer M66S machines are immersion-cooled models with an efficiency rating of 18.5 J/T. Based on Microbt’s specifications, each unit can deliver approximately 270 to 298 TH/s, making the batch a significant addition to Riot’s fleet.
The latest order follows another major purchase made in June, when Riot acquired 33,280 Microbt ASIC miners representing about 7.8 EH/s. That earlier batch is scheduled for deployment in the first quarter of 2024, while the newly announced 18 EH/s of immersion-cooled machines is expected to come online in the second half of 2024.
Long-term roadmap points beyond 100 EH/s
CEO Jason Les said Riot is continuing to build out infrastructure at its Corsicana facility in Texas, in line with the company’s established vertically integrated strategy. Riot also expanded its agreement with Microbt, obtaining the option to purchase an additional 265,000 Whatsminer units, equivalent to as much as 75 EH/s of future hardware.
If those options are exercised, Riot’s total fleet capacity could rise beyond 100 EH/s. The announcement outlines a multi-year growth plan and highlights how large listed miners are using advance hardware commitments to strengthen scale and efficiency in a competitive market.
Shares jump after the announcement
Following the news, Riot shares rose 9%. On a year-to-date basis, the stock had already gained 294%. With mining competition intensifying and machine efficiency playing a bigger role in profitability, Riot’s latest purchase signals both aggressive capacity expansion and a continued focus on operational performance.