Bitcoin mining company Riot Platforms acquires Block Mining for $92.5 million
Bitcoin mining company Riot Platforms has acquired Bitcoin miner Block Mining in Kentucky for $92.5 million to expand its mining business. In a statement released on Tuesday, Riot said the acquisition would immediately add 60 megawatts of existing operational capacity. The company added, "Riot plans to further expand Block Mining's two sites with the goal of achieving 110 megawatts of self-mining operational capacity by the end of 2024." This will bring Riot's total potential power generation capacity to 2,000 megawatts.
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