Riot Platforms, the largest public U.S. Bitcoin mining company in terms of developed capacity, has made a groundbreaking announcement regarding a partnership with Bitcoin ASIC manufacturer, MicroBT. The two major bitcoin companies will bring the production of MicroBT’s ASICs to America. The collaboration aims to secure miners for Riot’s Corsicana Facility, significantly boosting the company’s mining capabilities. According to a press release shared with Bitcoin Magazine, this development comes as Riot’s Corsicana Facility is set to increase the company’s developed capacity to 1.6 GW.
“This agreement directly repudiates every major criticism of our industry,” the press release stated. “For those concerned about our energy consumption, these machines will be more efficient than ever … For those who say Bitcoin mining data centers do not actually create jobs, we are helping to create hundreds of jobs, between the MicroBT manufacturing facility in Pennsylvania, and our state of the art data center coming to Corsicana, Texas.”
One of the key highlights of this partnership is the expected increase in Riot’s self-mining hash rate capacity. The press release states that by mid-2024, upon the full installation of the machines from this order, Riot’s self-mining hash rate capacity is projected to surge by approximately 61% to over 20 EH/s. This significant boost in capacity further establishes Riot’s position as a leading player in the Bitcoin mining industry.
Moreover, this partnership between Riot and MicroBT also marks a pivotal moment for the industry. Bitcoin miner manufacturing has traditionally been concentrated in Asia, but this new partnership with Riot strengthens the domestic supply chain in the United States. It expands the options available to Bitcoin miners, offering them a robust selection of machines.
Importantly, the collaboration between Riot and MicroBT will not only have a positive impact on the industry but also on local job creation. The machines will be manufactured by MicroBT at a new facility in the United States, generating employment opportunities in the local area.
Riot’s partnership with MicroBT signifies a major milestone within the Bitcoin mining industry. With the increased hash rate, domestic manufacturing and job creation, this collaboration is set to shape the future of Bitcoin mining in the United States and contribute to the growth of the industry as a whole.