In a significant stride for the U.S. Bitcoin mining sector, Riot Platforms, the largest public U.S. Bitcoin mining company in terms of developed capacity, has announced a landmark partnership with Bitcoin ASIC manufacturer, MicroBT. This collaboration is set to bring the production of MicroBT’s ASICs to America, marking a monumental shift in the traditionally Asia-centered Bitcoin miner manufacturing industry.
The primary objective of this partnership is to secure miners for Riot’s Corsicana facility, a move set to considerably enhance the company’s mining capabilities. According to a press release shared with Bitcoin Magazine, this development aligns with Riot’s plans to amplify the company’s developed capacity to 1.6 GW at its Corsicana facility.
Addressing critiques of the industry, the press release stated
“This agreement directly repudiates every major criticism of our industry… 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.”
A highlight of this partnership is the anticipated increase in Riot’s self-mining hash rate capacity. The press release projects that by mid-2024, following the full installation of the machines procured through this order, Riot’s self-mining hash rate capacity will witness a surge of approximately 61%, taking it to over 20 EH/s. This substantial boost in capacity further cements Riot’s standing as a leading entity in the Bitcoin mining industry.
Moreover, this alliance between Riot and MicroBT signals a turning point for the industry. While Bitcoin miner manufacturing has been primarily focused in Asia, this collaboration represents a significant step towards strengthening the domestic supply chain in the United States. It widens the available options for Bitcoin miners, affording them access to a diverse range of machines.
Importantly, the benefits of this partnership extend beyond the confines of the industry, positively impacting local job creation. The ASICs will be manufactured by MicroBT at a new facility in the United States, promising employment opportunities in the local region.
Riot’s partnership with MicroBT sets a noteworthy precedent within the Bitcoin mining industry. By enhancing the hash rate, fostering domestic manufacturing, and stimulating job creation, this collaboration is poised to redefine the landscape of Bitcoin mining in the United States and contribute to the overall growth of the industry. This significant development underscores a new era in the U.S. Bitcoin mining industry, echoing the country’s commitment to embrace and harness the potential of digital assets.
