Bitcoin mining company Riot Platforms acquires Block Mining for $92.5 million

Bitcoin mining company Riot Platforms acquired Bitcoin miner Block Mining in Kentucky for $92.5 million to expand its mining business. In a statement released on Tuesday, Riot said that the acquisition would immediately add 60 megawatts of existing operational capacity. The company added: "Riot plans to further expand Block Mining's two sites, with the goal of achieving 110 megawatts of self-mining operational capacity by the end of 2024." This will bring Riot's total potential power generation capacity to 2,000 megawatts.