Riot Platforms, an American cryptocurrency company, has decided to exercise its option to purchase 66,560 mining rigs from MicroBT with a total power of 18 EH/s, costing $290.5 million, excluding additional fees and taxes. This move is part of an agreement to supply 33,280 miners, with unchanged financing terms.

The majority of the new order (48,058 units) will consist of the latest WhatsMiner M66S model, featuring immersion cooling and high energy efficiency of 18.5 J/TH. The delivery and installation of the new batch of equipment are planned for the second quarter of 2024.

Additionally, Riot and MicroBT have agreed on the possibility of purchasing up to 265,000 more miners in the future, potentially increasing the company's total hash rate to 100 EH/s.

Riot's CEO, Jason Les, emphasized that the price of these future purchases will not exceed the cost of the current order. This will allow the company to more effectively plan capital expenditures and protect against potential market price increases.

It should be noted that in the second quarter, Riot Platforms significantly reduced its losses to $27.7 million compared to a loss of $353.6 million in the same period last year. In September, the company also reported earning $31.6 million in August, thanks to the temporary shutdown of mining installations in Texas.