Bitcoin News and Finance

Bitcoin Miner Riot Secures 66,560 Microbt ASIC Miners to Boost Hashrate by 18 EH/s

The bitcoin mining corporation Riot Platforms, a publicly traded firm within the industry, recently announced a significant expansion of its operations. The firm has completed its largest-ever acquisition of application-specific integrated circuit (ASIC) miners, securing 66,560 units of Microbt’s latest Whatsminer M66S models. This substantial purchase is set to boost Riot’s current mining capabilities by 18 exahash per second (EH/s).

Riot Platforms Amplifies Bitcoin Mining Capabilities With Record $290.5 Million ASIC Acquisition

Operating from Texas and listed on the Nasdaq, Riot revealed its monumental investment of $290.5 million in acquiring 18 EH/s of Microbt bitcoin miners, averaging a cost of $16 per terahash. This acquisition marks Riot’s most substantial investment to date. The company has also negotiated future options to purchase an additional 75 EH/s of hardware from the ASIC manufacturer.

The newly ordered 66,560 units of Microbt’s Whatsminer M66S models represent a significant step in Riot’s expansion. The Microbt ASIC machines are advanced immersion-cooled devices, boasting an efficiency rate of 18.5 joules per terahash (J/T).

According to Microbt’s product specifications, these high-performance miners are capable of generating between 270 and 298 terahash per second (TH/s). This order follows Riot’s previous purchase in June of 7.8 EH/s, comprising 33,280 Microbt ASIC bitcoin miners.

The prior acquisition is scheduled for deployment by the first quarter of 2024, while the latest 18 EH/s of immersion-cooled miners are set for operational deployment in the latter half of 2024. Jason Les, the CEO of Riot, expressed his enthusiasm for the company’s ongoing expansion in a statement released on Monday.

“We are actively building out the infrastructure at our Corsicana Facility, consistent with our long-standing, proven, vertically-integrated strategy,” he remarked. “Riot is thrilled to further strengthen our relationship with Microbt and to lay out our roadmap to reach and exceed 100 EH/s in the coming years.”

Riot has also updated its agreement with Microbt, securing an option to purchase an additional 265,000 Whatsminer models from the firm. Should Riot capitalize on this opportunity, its fleet’s capacity could soar beyond 100 EH/s. Following this announcement, Riot’s shares (Nasdaq: RIOT) witnessed a 9% increase against the greenback. Notably, the company’s stock has seen a significant 294% increase year-to-date.

What are your thoughts on Riot’s latest purchase? Let us know what you think in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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