Bitcoin Mining Firm Riot Secures 33,000 New Rigs for $162 Million

[Blitzboy]

Cryptocurrency is alive and kicking, folks! Riot Platforms is carving a path, ramping up its Bitcoin mining muscle, a leap of faith that resonates with the digital gold's prospects.

Pioneering technologies call for perseverance, results of investments like this arent immediate. A 2024 activation for these machines shouldn't dampen spirits. Instead, its a symbol of the enduring trust Riot Platforms and other savvy investors hold in Bitcoin and the crypto galaxy.

This input may herald the next bull phase. The "wise bucks" are synchronizing with the undeniable truth of Bitcoin's staying power, emphasizing blockchain's potential and import.

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[btc_angela]

Cryptocurrency is alive and kicking, folks! Riot Platforms is carving a path, ramping up its Bitcoin mining muscle, a leap of faith that resonates with the digital gold's prospects.

Pioneering technologies call for perseverance, results of investments like this arent immediate. A 2024 activation for these machines shouldn't dampen spirits. Instead, its a symbol of the enduring trust Riot Platforms and other savvy investors hold in Bitcoin and the crypto galaxy.

This input may herald the next bull phase. The "wise bucks" are synchronizing with the undeniable truth of Bitcoin's staying power, emphasizing blockchain's potential and import.

Yeah, as said previously, they know the game already, so they are going to invest today, because we are all anticipating a huge rally in the next bull run. So this companies are preparing themselves already and they are willing to invest huge money like in the next because they know that the returns will outweigh the investments, in short, they are in the profit seeking business.

As for the bull run, maybe we did start already, as just in January alone, we've seen a big jump of like 40%++.

But the real action is after the halving and that's where everyone is anticipating a big jump in prices, a new all time high of 6 digits.

[Woodie]

However you want to look at this , this is another signal for anybody doubting if bitcoin is real, its very real !

And just so you know, no business will invest millions of dollars without having a foresight of reaping profits out of its business..btw this is bullish bullish news, I like it 👌!!!

I wonder why they are bumping up their .mining power, any possibility of a new player coming on board in the mining space or its business as usual

[yhiaali3]

It is noteworthy that this huge investment comes at this time, less than a year before the halving. It is known that the bitcoin rewards will drop in half after the halving, so the big company must not have ventured to put this huge amount into mining if they did not have great confidence that the price of bitcoin would rise strongly and the next bull will start.

It is certain that these large companies do not make any move before the economic feasibility study for several years, so these are good indications that we will witness the beginning of the bull soon and there will be new peaks for Bitcoin.

[el kaka22]

Not a good decision at all. I know it sounds like a lot of money but this is not a good decision at all. Why? Because even with that much power, they are not going to get a lot of marketshare, there are people who build their own ASIC miners and use them, so the power they have will always be higher.

And even if they make a "profit" quickly on the early days, this isn't something we can use for decades, it is an investment that will make a profit until it is old hardware and needs a better and new upgraded version. I kept saying that mining is a bad business because it is short term and you barely make the money back and then some, when you could use the same money and do a better business that can grow instead of get old with time.