Riot Platforms announced the completion of the acquisition of specific assets of bitcoin miner Rhodium for a total consideration of $185 million
2025-04-29 01:26:01
Nasdaq-listed bitcoin miner Riot Platforms announced that its wholly owned subsidiary Whinstone US has acquired certain assets of Rhodium Encore's Rockdale mine for a total consideration of $185 million, including $129.90 million in cash, $6.10 million in electricity margin return, and $49 million in Riot common stock. Rhodium has filed for bankruptcy in Texas in 2024 with up to $100 million in debt. Its co-CEO Nathan Nichols subsequently announced his resignation. The company's mining machines are mainly hosted at Riot's Whinstone mine in Rockdale, Texas. The remaining mining machines are hosted at its proprietary Temple mine.
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