Nasdaq-listed mining company Riot Blockchain (NASDAQ: RIOT) is acquiring Whinstone US, Inc. data center operations in Texas from Northern Data AG.
Riot Blockchain said Thursday it has signed an agreement to acquire the firms Texas operations for $80 million cash and 11.8 million shares of Riot stock at a total value of $651 million, with the goal of increasing the American footprint in the global bitcoin mining landscape.
Acquired in 2019 by Germanys Northern Data AG, a developer and operator of high-performance computing (HPC) infrastructure solutions, Whinstone US operates a high-performance bitcoin mining facility based in Rockdale, Texas, with a 300-megawatt capacity, which can be rapidly expanded by an additional 450 MW, according to Riot Blockchain.
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Riot will wholly own the largest bitcoin mining facility in North America, with very low power costs, and one of the most talented development teams in the industry, said Jason Les, CEO of Riot Blockchain.