The miners are back for another season and this time they're raising the stakes!

The Miners Are Back! Todd Hoffman & Parker Schnabel Wager $100,000 on Gold Rush Season 8

The miners are back for another season — and this time they’re raising the stakes!

In a clip for Gold Rush‘s upcoming season 8 premiere, Todd Hoffman claims he’ll beat out longtime rival Parker Schnabel to find the most gold.

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And if he doesn’t? The Gold Rush star will pay a pretty penny: $100,000 to be exact.

Last season, Hoffman came up short of his 5,000-oz. goal in Oregon, but now he’s determined to be successful in Colorado and he’s enlisted his father, Jack, and 18-year-old son, Hunter, to help.

While Schnabel, 22, was happy to accept the pricey wager, Hoffman isn’t his only competition. His landlord Tony Beets, “The Viking,” has already taken $2.3 million in royalties over the last four years.

This season, Parker has a plan to buy his freedom with a deal on new virgin ground — as long as he can get his wash plant Big Red up and running.