Riot Platforms Inc. Completes Acquisition of Rhodium Assets at Rockdale Facility, Expands Power Capacity

Reuters
04-29
<a href="https://laohu8.com/S/RIOT">Riot Platforms</a> Inc. Completes Acquisition of Rhodium Assets at Rockdale Facility, Expands Power Capacity

Riot Platforms Inc., a leader in the Bitcoin mining industry, has announced the closing of its acquisition of specific assets from Rhodium Encore LLC at its Rockdale Facility. The transaction, valued at $185.0 million, includes $129.9 million in cash, a $6.1 million return of Rhodium's power security deposit, and $49.0 million in Riot common stock. This acquisition allows Riot to terminate unprofitable legacy hosting contracts with Rhodium, which had previously resulted in a gross loss of approximately $15 million in FY 2024. As a result, Riot now assumes Rhodium's 125 MW of power capacity, which will be fully utilized by Riot and its subsidiaries. Additionally, Riot has acquired all tangible Rhodium property, including ASIC miners, at the Rockdale Facility. This move marks a significant step for Riot, expanding its capacity and reducing future litigation expenses.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Riot Platforms Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: LA74549) on April 28, 2025, and is solely responsible for the information contained therein.

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