Riot says the deal will immediately add one exahash per second to its self-mining hashrate and expands its footprint in the United States.
American Bitcoin mining giant Riot has acquired Kentucky-based mining firm Block Mining in a deal worth $92.5 million.
On July 24, Riot Platforms announced that the acquisition involved a purchase price of $18.5 million in cash from its balance sheet plus $74 million of Riot’s common stock.
It stated that Block Mining could earn an additional consideration of up to a maximum of $32.5 million based on performance through 2025.
