Bitcoin mining firm Riot Platforms acquires Block Mining for $92.50 million

Bitcoin mining company Riot Platforms today acquired Kentucky-based bitcoin miner Block Mining for $92.50 million to expand its mining operations. In a statement released Tuesday, Riot said the acquisition immediately adds 60 trillion watts of existing operating capacity. "Riot intends to further expand Block Mining's two sites with the goal of achieving 110 trillion watts of self-mining operating capacity by the end of 2024," the company added. This will bring Riot's total potential generation capacity to 2 gigawatts.