Riot Platforms bought Block Mining for $92.5 million 💸
🔹 American mining giant Riot acquired Block Mining from Kentucky.
🔹 The deal includes $18.5 million in cash and $74 million in Riot shares.
🔹 Block Mining may receive up to $32.5 million in additional payments depending on results until 2025.
🔹 Riot is increasing its capacity and entering new energy markets.
🔹 It is planned to expand capacity to 110 MW by the end of 2024.