Riot Platforms Becomes Second Largest US-Listed Miners With Block Mining Acquisition
Portfolio Pulse from Surbhi Jain
Riot Platforms Inc (NASDAQ:RIOT) has acquired Block Mining, a Kentucky-based Bitcoin miner, for $92.5 million. This acquisition significantly boosts Riot's power capacity and hashrate targets, positioning it as the second-largest U.S.-listed miner by capacity.
July 24, 2024 | 1:12 pm
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Riot Platforms' acquisition of Block Mining for $92.5 million significantly boosts its power capacity and hashrate targets, positioning it as the second-largest U.S.-listed miner by capacity.
The acquisition of Block Mining enhances Riot's power capacity to over 2 GW and increases its hashrate targets to 56.6 EH/s by the end of 2025. This positions Riot as a leading player in the crypto-mining industry, likely driving positive investor sentiment and short-term stock price appreciation.
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