Riot Blockchain acquires Whinstone

Monday 12 April 2021 13:21 CET | News

The mining company Riot Blockchain has announced buying crypto mining data centre operator Whinstone.

Whinstone operates a Bitcoin mining farm in the US, which currently has a capacity of 750 megawatts, and is working on an expansion by an additional 300 MW. Riot Blockchain will initially transfer USD 80 million, with the remaining 12% of the purchase price being paid in the form of Riot shares to Germany-based information technology company Northern Data, Whinstone’s former parent company.

Riot has already expanded its capacities recently by acquiring 42,000 Antminer from Bitmain for USD 138 million in April 2021. As a result of recent acquisitions, Riot Blockchain was able to fivefold its hashing power, a measure of the computing power required for mining. According to a Riot representative, the company aims to establish the American mining industry on the world market. 

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Keywords: acquisition, cryptocurrency, mining, Bitcoin
Categories: DeFi & Crypto & Web3
Countries: United States
This article is part of category

DeFi & Crypto & Web3