Riot Platforms Acquires Block Mining in $92.5 Million Deal, Expanding Bitcoin Mining Power Capacity

Jul 24, 2024, 02:12 AM

Riot Platforms has announced the acquisition of Block Mining in a $92.5 million deal. This acquisition will expand Riot’s total potential power capacity to 2 gigawatts. The deal adds 60 megawatts of current operational capacity with the potential to quickly expand to 110 megawatts this year under existing agreements. The transaction also aims to diversify Riot Platforms’ operating footprint and bring on a proven management team to build and operate new capacity. Jason Les, CEO of Riot Platforms, expressed pride and excitement over the acquisition.