Riot Platforms and CleanSpark, two major mining companies, are deploying new mining machinery due to the halving event that is expected in April. The main outcome of this event will be that at the given time, the reward for mining a block will fall twice, from 6.25 BTC to 3.125 BTC.

Riot strengthens its self-mining operations by purchasing 31,500 @Whatsminer_MBT M60S miners from MicroBT. This strategic investment replaces underperforming machines, boosts mining efficiency, and adds additional hash rate capacity at the Rockdale Facility.

Read more in today’s… pic.twitter.com/rBXsdjesBQ

— Riot Platforms, Inc. (@RiotPlatforms) February 27, 2024

Riot Platforms acquired some more mining hardware from MicroBT to increase hash rate at its Rockdale, Texas facility. The point of the expansion is to replace old miners and install new ones, bringing the total hash rate up to a target of 31 EH/s by the end of 2024.

CleanSpark expanded its operations further by purchasing three large data centers in Mississippi, increasing its estimated operational hash rate to 2.4 EH/s. 

CEO Zach Bradford also stated in a press release, “CleanSpark is also sprinting to add more hash rate as quickly as possible.” This has enabled the company to gain a hash rate of over 15 EH/s.

This has also been confirmed via the X platform:

Our acquisition of three Mississippi #Bitcoin mining data centers is complete and initial operations have already begun, boosting $CLSK‘s operating #hashrate to over 15 EH/s.

In nearby Georgia, we have invested over $700 million into energy infrastructure, miners, buildings, and… pic.twitter.com/4U2tE3bn6U

— CleanSpark Inc. (@CleanSpark_Inc) February 27, 2024

The primary target of the two companies is to mobilize additional hash rates and revise their power consumption levels before the halving event in anticipation of the reduced income flow.

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