Riot Platforms Aims to Buy Texas Mining Assets for $185 mln

Riot Platforms plans to acquire Bitcoin mining facilities in Rockdale, Texas from Rhodium Encore for $185 mln. TheMinerMag reports that the transaction is intended to settle ongoing legal disputes between both parties.

If successful, Riot is set to gain control over the infrastructure and expand its operational capacity. The deal involves a significant portion of mining rigs and power capabilities, potentially strengthening the company’s competitive position in the region.

Final approval hinges on the court overseeing Rhodium Encore’s bankruptcy proceedings. Observers believe that this purchase could dramatically boost Riot Platforms’ mining output.