CryptoMediaClub
Friday, April 3, 2026
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Riot Platforms Acquires Block Mining for $92.5M, Expands to 2 GW Capacity

25.07.2024
A A
0
120
VIEWS
ShareShare

Riot Platforms acquired Block Mining on July 24 for $92.5 million, greatly expanding its operational capacity and geographical footprint.

According to a recent press release by Riot Platforms, the purchase was funded with $18.5 million in cash and $74 million in common stock. Block Mining can earn up to $32.5 million by 2025, contingent on securing further power purchase agreements to expand capacity.

Riot Platforms Total Capacity Increases to 2 GW

The acquisition includes 60 megawatts (MW) of current operational capacity, with plans to expand to 110 MW by the end of 2024 and further potential to reach over 300 MW in Kentucky.

The announcement also stated that the acquisition would immediately increase Riot’s self-mining hash rate by 1 EH/s, with the potential to boost it to 16 EH/s by the end of 2025.

"The acquisition of Block Mining marks a significant milestone for Riot as we continue to expand our growth pipeline," said @JasonLes_, CEO of Riot. "This transaction allows us to diversify our operations nationally and accelerate Block Mining’s expansion in Kentucky. With a… https://t.co/vlt648TLDo pic.twitter.com/M2B2GyyyzL

— Riot Platforms, Inc. (@RiotPlatforms) July 23, 2024

Block Mining currently operates two sites in Kentucky with a combined capacity of 60 MW, which can expand to 155 MW. Currently, 23 MW are dedicated to self-mining, 19 MW are ready for immediate deployment, and 18 MW are leased to Bitcoin mining tenants.

The sites receive power from the Tennessee Valley Authority (TVA) and Big Rivers Electric Corporation within the Midcontinent Independent System Operator (MISO) region.

Block Mining Management Team to Stay

The management team of the Kentucky sites will continue to run the facilities and drive expansion efforts, leveraging local relationships, Riot’s financial resources, and a fixed-price hash rate agreement with MicroBT.

“The acquisition of Block Mining marks a significant milestone for Riot as we continue to expand our growth pipeline,” said Riot Platforms CEO Jason Les. “This transaction allows us to diversify our operations nationally and accelerate Block Mining’s expansion in Kentucky.”

“In assessing potential acquisition partners, it became evident that Riot Platforms not only shares our vision for an energy-efficient Bitcoin miner, but also a complementary culture that values teamwork, creativity, and a relentless pursuit of excellence,” said Block Mining co-founder and CEO Michael Stoltzner.

The post Riot Platforms Acquires Block Mining for $92.5M, Expands to 2 GW Capacity appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

BTC USD Price Could Break New Lows: U.S. Dollar and Oil Getting Stronger
All news

BTC USD Price Could Break New Lows: U.S. Dollar and Oil Getting Stronger

03.04.2026
0

Bitcoin is under pressure, and the macro forces closing in aren’t easing. BTC USD price just fell to the $66,000...

Read moreDetails
XRP Price Prediction: XRP Could Soon Become a State Treasury Asset

XRP Price Prediction: XRP Could Soon Become a State Treasury Asset

02.04.2026
eToro Launches Crypto Trading in New York After Securing BitLicense

eToro Launches Crypto Trading in New York After Securing BitLicense

02.04.2026
Russia Targets 50,000 Miners as Crypto Mining Banned in 13 Regions

Russia Targets 50,000 Miners as Crypto Mining Banned in 13 Regions

02.04.2026
Hyperliquid Price Prediction: HYPE Experiencing Major Slash – Time to Buy?

Hyperliquid Price Prediction: HYPE Experiencing Major Slash – Time to Buy?

02.04.2026
Load More
Next Post
Ancient Bitcoin Wallets Come Back To Life After More Than 11 Years Of Dormancy

Ancient Bitcoin Wallets Come Back To Life After More Than 11 Years Of Dormancy

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Why Top Crypto Analysts Say Pepe Dollar Is “Pepecoin with Purpose”, How Pepe Dollar (PEPD) Fixes What Pepecoin Started

Why Top Crypto Analysts Say Pepe Dollar Is “Pepecoin with Purpose”, How Pepe Dollar (PEPD) Fixes What Pepecoin Started

9 months ago
Bitcoin Price Prediction: Rich Dad Poor Dad Author Buys More Bitcoin During Crash  – What Does He Know?

Bitcoin Price Prediction: Rich Dad Poor Dad Author Buys More Bitcoin During Crash  – What Does He Know?

5 months ago
BTC price climbs above $28.6K as Bitcoin awaits ‘very dovish’ Fed Powell speech

BTC price climbs above $28.6K as Bitcoin awaits ‘very dovish’ Fed Powell speech

2 years ago
Etherscan Adds New Security Feature To Counter Address Poisoning Attacks

Etherscan Adds New Security Feature To Counter Address Poisoning Attacks

3 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

XRP Price Prediction: XRP Could Soon Become a State Treasury Asset

XRP’s use case should benefit from global stress, so why is price acting like a risk asset?

eToro Launches Crypto Trading in New York After Securing BitLicense

Bitcoin, stocks rally because of chatter that Iran is ready to ‘end the war’ as Dollar Index sinks below 100

Russia Targets 50,000 Miners as Crypto Mining Banned in 13 Regions

Bitcoin breaks critical support as dollar and oil move together, raising risk of a deeper drop

Trending

Analysis

Bitcoin, stocks rally because of chatter that Iran is ready to ‘end the war’ as Dollar Index sinks below 100

03.04.2026
0

Bitcoin rose back above $68,000 on March 31 after markets began to bet on a resolution to...

BTC USD Price Could Break New Lows: U.S. Dollar and Oil Getting Stronger

BTC USD Price Could Break New Lows: U.S. Dollar and Oil Getting Stronger

03.04.2026

Bitcoin, stocks rally because of chatter that Iran is ready to ‘end the war’ as Dollar Index sinks below 100

02.04.2026
XRP Price Prediction: XRP Could Soon Become a State Treasury Asset

XRP Price Prediction: XRP Could Soon Become a State Treasury Asset

02.04.2026
XRP’s use case should benefit from global stress, so why is price acting like a risk asset?

XRP’s use case should benefit from global stress, so why is price acting like a risk asset?

02.04.2026
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz