Riot Platforms Acquires Block Mining for $92.5M to Boost Bitcoin Mining Capacity

Riot Platforms Acquires Block Mining for $92.5M to Boost Bitcoin Mining Capacity

Riot Platforms, a prominent Bitcoin mining company based in Colorado, has announced the acquisition of Block Mining, a Kentucky-based competitor, for $92.5 million. This strategic purchase aims to enhance Riot's operational capacity by 16 exahashes per second (EH/s). The acquisition deal includes an $18.5 million cash payment and $74 million in Riot common stock, as detailed in a press release dated July 24. The transaction immediately boosts...

Coinatory

Comments

Post a Comment

Popular posts from this blog

Bitcoin news

Image
Bitcoin news section contains news about bitcoin - the main cryptocurrency. While the crypto world has a vast variety of cryptocurrencies, bitcoin has around half of it, at least, by capitalization on the cryptocurrency market. The same story with the cryptocurrency news - bitcoin news plays an important role here and there are lots of them daily, comparing to the other coins. While being the first of a kind, bitcoin is not becoming outdated as the core development team is constantly working on improvements of its code and network. But ... Read more about " Bitcoin news " on coinatory.com
Read more

Circle Expands Role in Hyperliquid via USDC Deployment and HYPE Stake

Image
Circle Expands Role in Hyperliquid via USDC Deployment and HYPE Stake Circle, the issuer behind USD Coin (USDC), has expanded its strategic footprint in the decentralized finance (DeFi) sector by deploying native USDC on Hyperliquid and acquiring a stake in the network’s native token, HYPE. The company is also evaluating the potential to join the network’s validator set—an increasingly competitive arena in blockchain governance. Following its public listing on June 5, Circle has taken decisive steps to broaden ... Coinatory cryptonews
Read more

The music platform with the blockchain was announced in South Korea

Image
A music platform with a blockchain was announced, which is designed to provide both streaming and a whole music industry. Muzika, which is the creation of experienced South Korean entrepreneurs, has already attracted support from the two largest technology companies in the country: Kakao and Naver. The blockchain-based music platform is designed to fight the growing problem of remuneration of musicians. While in current streaming systems, artists complain that they have little control over their works and inadequate payments for their ... Read more about " The music platform with the blockchain was announced in South Korea " on coinatory.com
Read more