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Riot Platforms | 8-K: Riot Platforms Announces Completion of Block Mining Acquisition

Riot Platforms | 8-K: Riot Platforms Announces Completion of Block Mining Acquisition

Riot Platforms | 8-K：Riot Platforms宣布完成对Block Mining的收购
美股SEC公告 ·  07/23 16:55

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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.
2024年7月23日，领先的比特币矿业公司Riot Platforms宣布，以总交易价值9250万美元的价格收购位于肯塔基州的整合比特币采矿公司Block Mining。交易包括现金1850万美元和7240623股Riot普通股，根据2024年7月18日成交日成交量加权平均价格每股10.22美元估值。此外，Block Mining还可以获得高达3250万美元的业绩支付杠杆，前提是达成与2024年和2025年肯塔基比特币挖矿所需能力扩展相关的某些里程碑。此次收购立即将1 EH/s的自主挖矿算力增加到Riot身上，最终可于2025年底达到16 EH/s。这一战略举措将Riot的业务版图扩展到肯塔基州，将其业务多元化到新能源市场，并引入有经验的管理团队。预计交易将加速Riot的增长并加强其达到100 EH/s增长目标的路径。有关收购的详细信息可在Riot网站的投资者演示中找到。
2024年7月23日，领先的比特币矿业公司Riot Platforms宣布，以总交易价值9250万美元的价格收购位于肯塔基州的整合比特币采矿公司Block Mining。交易包括现金1850万美元和7240623股Riot普通股，根据2024年7月18日成交日成交量加权平均价格每股10.22美元估值。此外，Block Mining还可以获得高达3250万美元的业绩支付杠杆，前提是达成与2024年和2025年肯塔基比特币挖矿所需能力扩展相关的某些里程碑。此次收购立即将1 EH/s的自主挖矿算力增加到Riot身上，最终可于2025年底达到16 EH/s。这一战略举措将Riot的业务版图扩展到肯塔基州，将其业务多元化到新能源市场，并引入有经验的管理团队。预计交易将加速Riot的增长并加强其达到100 EH/s增长目标的路径。有关收购的详细信息可在Riot网站的投资者演示中找到。
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