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Combined Riot-Bitfarms entity reaches 51 EH/s by end of 2024?
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Resolution / Starting Odds
Yes • 50%
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Official press releases or performance reports from Riot Platforms or Bitfarms
Story
Riot Platforms Acquires 9.25% Stake in Bitfarms, Plans Takeover Bid to Create 51 EH/s Miner
May 28, 2024, 12:06 PM
Riot Platforms has acquired a 9.25% stake in Bitfarms and plans to make a public takeover bid for the smaller Bitcoin mining company. If the acquisition is successful and both companies meet their EH/s targets, the combined entity could become a 51 EH/s miner by 2024, with a mining fleet of approximately 169,000 machines, making it the second largest after Core Scientific (CORZ). This move marks a significant consolidation in the Bitcoin mining industry, with expectations of significant developments this summer.
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Riot Platforms outperforms • 50%
Bitfarms outperforms • 50%
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