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...

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