Pretty crazy that they are willing to spend millions on a technology which is ignored by many big giants. Amazon could have just bought all the miners in the world and can sell the mining power to retail and make millions but they never thought of this as a business. Google on the other hand with the help of Intel can make their own mining rigs and mine Bitcoins. Kudos to Riot for working on this ignoring all the FUD.
Those fud arent even a big deal to some since they knew it was just an act. Now the SEC fud was dissolve and replace with the bullish news of bitcoin spot etf and even this new one shared by OP. I guess the company see a huge upside with the application and decided to throw some of their funds to work. Considering mining is quite expensive due to equipment needed. A move must be done and now this will be another catalyst for an epic bull run. 
Topic: Bitcoin Mining Firm Riot Secures 33,000 New Rigs for $162 Million - page 2. (Read 211 times)
Pretty crazy that they are willing to spend millions on a technology which is ignored by many big giants. Amazon could have just bought all the miners in the world and can sell the mining power to retail and make millions but they never thought of this as a business. Google on the other hand with the help of Intel can make their own mining rigs and mine Bitcoins. Kudos to Riot for working on this ignoring all the FUD.
Yes this is pretty bullish because it’s a huge investment and next year is the halving. So obviously the smart money knows that Bitcoin is not going anywhere.
Institutions and these large companies invest for the long term. Most retail invest in the short term and that’s why we still got bears around us. News like this is proof that you need to think crypto long term and not short term. Short term it can still break down $20K but what matters is that it stays above $20K next year and the following.
Institutions and these large companies invest for the long term. Most retail invest in the short term and that’s why we still got bears around us. News like this is proof that you need to think crypto long term and not short term. Short term it can still break down $20K but what matters is that it stays above $20K next year and the following.
Many people in the forum say that we are still not in a bull market, however, the actions of Blackrock and big mining companies like Riot Platforms tell us that it is now the right time to invest.
The Application-Specific Integrated Circuit (ASIC) order adds up to $162.9 million, making it a standout purchase even among a slew of similar investments from competing firms this year. The machines themselves, however, aren’t scheduled for delivery until December 2023, and won’t be deployed until the first quarter of 2024.[/i]
Many people in the forum who think market is still not in bull market, they are referring to the current timeframe of the market means: they and including me, think that currently market might be in uptrend but it is not going to last to the first quarter of 2024. As, these news are made now but yet both news are yet to be executed (fulfilled).The Application-Specific Integrated Circuit (ASIC) order adds up to $162.9 million, making it a standout purchase even among a slew of similar investments from competing firms this year. The machines themselves, however, aren’t scheduled for delivery until December 2023, and won’t be deployed until the first quarter of 2024.[/i]
And when that will happen, it will only help BTC to break its ATH in the next Bull run which will come after the halving (well halving is also in the first quarter of 2024). And AFAIK, BTC is already going to be in Bull run so why creating so much suspense now that Bitcoin is in bull run while these are just statements. Or maybe i am being to pessimistic which generally i am not.
Another bullish news alongside the speculation that a bitcoin spot ETF is coming.
This should appear to us that what everyone calls the smart money are preparing for the next bull market which the cryptospace might already be on the starting line. Does everyone remember the chart where they marked the different market stages with euphoria, fear, capitulation, depression, hope and disbelief? We might be in disbelief hehehehe.
Many people in the forum say that we are still not in a bull market, however, the actions of Blackrock and big mining companies like Riot Platforms tell us that it is now the right time to invest.
Riot Platforms—one of the largest Bitcoin mining companies in the world—is set to boost its hashrate capacity to new heights after purchasing 33,280 mining rigs from MicroBT, a leading manufacturer of the machines needed to mine new coins.
The Application-Specific Integrated Circuit (ASIC) order adds up to $162.9 million, making it a standout purchase even among a slew of similar investments from competing firms this year. The machines themselves, however, aren’t scheduled for delivery until December 2023, and won’t be deployed until the first quarter of 2024.
Source https://decrypt.co/146308/bitcoin-mining-firm-riot-secures-33000-new-rigs-for-162-million
This should appear to us that what everyone calls the smart money are preparing for the next bull market which the cryptospace might already be on the starting line. Does everyone remember the chart where they marked the different market stages with euphoria, fear, capitulation, depression, hope and disbelief? We might be in disbelief hehehehe.
Many people in the forum say that we are still not in a bull market, however, the actions of Blackrock and big mining companies like Riot Platforms tell us that it is now the right time to invest.
Riot Platforms—one of the largest Bitcoin mining companies in the world—is set to boost its hashrate capacity to new heights after purchasing 33,280 mining rigs from MicroBT, a leading manufacturer of the machines needed to mine new coins.
The Application-Specific Integrated Circuit (ASIC) order adds up to $162.9 million, making it a standout purchase even among a slew of similar investments from competing firms this year. The machines themselves, however, aren’t scheduled for delivery until December 2023, and won’t be deployed until the first quarter of 2024.
Source https://decrypt.co/146308/bitcoin-mining-firm-riot-secures-33000-new-rigs-for-162-million
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