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Riot Blockchain Acquires Mining Capacity Provider For $ 651 Million

Nasdaq-listed mining company Riot Blockchain has entered into an agreement to purchase Whinstone US Bitcoin mining capacity provider.

Whinstone’s capacity is estimated at 750 MW with a potential increase of another 300 MW. The approximate amount of the deal will be $ 651 million – $ 80 million and 11.8 million of its own shares in Riot Blockchain.

“Riot will fully take over the largest Bitcoin mining venture in North America with low electricity costs and one of the most highly skilled teams in the industry,” said Riot Blockchain CEO Jason Les.

The company plans to close the deal in the second quarter of 2021 after regulatory approval.

In November 2019, the German mining company Northern Data acquired Whinstone. At that time, the provider was building a bitcoin farm in the state of Texas with an area of ​​57 football fields.

Recall that in April 2021, Riot Blockchain agreed with Bitmain to purchase 42,000 Antminer S19j ASIC miners for a total of $ 138.5 million.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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