Riot Platforms Acquires Block Mining
July 23, 2024
Riot Platforms, Inc. acquired Kentucky-based Block Mining, Inc. for $92.5 million in a mix of cash and Riot common stock, with up to $32.5 million of additional earn-outs tied to future power purchase agreements. The deal adds 60 MW of operational capacity (with near-term expansion to ~110 MW and a pipeline to 300+ MW), immediately increases Riot's self-mining hash rate by ~1 EH/s, and expands Riot's geographic footprint into Kentucky.
- Buyers
- Riot Platforms, Inc.
- Targets
- Block Mining, Inc.
- Industry
- Energy
- Location
- Kentucky, United States
- Transaction Type
- Buyout
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