🚀 Crypto breaking news: Riot acquires Block Mining for $92.5 million! 💰

- Riot Platforms has just announced the acquisition of Block Mining in Kentucky for $18.5 million in cash and $74 million in stock.

- Block Mining can receive an additional $32.5 million if it performs well until 2025.

- This deal helps Riot increase hashrate and expand the energy market beyond Texas.

- Block Mining has 2 operating facilities with a capacity of 60 MW, expected to expand to 110 MW by the end of 2024.

- Riot CEO Jason Les said this helps the company diversify and expand its scale to more than 300 MW.

- Riot increased hashrate by 50% in June, mining 255 BTC.

- Riot is also trying to buy Bitfarms for $950 million and has passed Bitfarms' "poison pill".

What do you think about this move by Riot? Comment now! ⬇️