On July 23, 2024, Riot Platforms, Inc., a leading Bitcoin mining company, announced the acquisition of Kentucky-based Block Mining, Inc., a vertically-integrated Bitcoin miner, for a total closing consideration of $92.5 million. The deal includes $18.5 million in cash and 7,240,623 shares of Riot's common stock, valued at $10.22 per share based on the volume-weighted average price as of July 18, 2024. Additionally, Block Mining may receive up to $32.5 million in earn-out payments subject to achieving certain milestones related to power capacity expansion for Bitcoin mining in Kentucky for 2024 and 2025. The acquisition immediately adds 1 EH/s to Riot's self-mining hash rate with the potential to reach up to 16 EH/s by the end of 2025. This strategic move expands Riot's operational footprint into Kentucky, diversifies its operations into new energy markets, and brings an experienced management team onboard. The transaction is expected to accelerate Riot's growth and enhance its path towards a 100 EH/s growth target. Details of the acquisition can be found in the investor presentation on Riot's website.

On July 23, 2024, Riot Platforms, Inc., a leading Bitcoin mining company, announced the acquisition of Kentucky-based Block Mining, Inc., a vertically-integrated Bitcoin miner, for a total closing consideration of $92.5 million. The deal includes $18.5 million in cash and 7,240,623 shares of Riot's common stock, valued at $10.22 per share based on the volume-weighted average price as of July 18, 2024. Additionally, Block Mining may receive up to $32.5 million in earn-out payments subject to achieving certain milestones related to power capacity expansion for Bitcoin mining in Kentucky for 2024 and 2025. The acquisition immediately adds 1 EH/s to Riot's self-mining hash rate with the potential to reach up to 16 EH/s by the end of 2025. This strategic move expands Riot's operational footprint into Kentucky, diversifies its operations into new energy markets, and brings an experienced management team onboard. The transaction is expected to accelerate Riot's growth and enhance its path towards a 100 EH/s growth target. Details of the acquisition can be found in the investor presentation on Riot's website.