Riot seeks to acquire Rhodium's Bitcoin mining assets in Texas for $185 million

According to BlockBeats, on March 24th, TheMinerMag reported that Riot Platforms plans to acquire Rhodium Encore's Bitcoin mining facility assets in Rockdale, Texas for $185 million to resolve a lawsuit dispute between the two companies. According to a statement released by Riot on Friday, its subsidiary Whinstone US has signed a non binding term sheet to acquire Rhodium's tangible assets in Rockdale, including ASIC mining machines and 125 megawatts of power capacity. The transaction plan includes Riot paying $129.9 million in cash, returning $6.1 million in electricity security deposits, and issuing $49 million worth of Riot stock. If the transaction is completed, Rhodium will withdraw from the Rockdale site within three working days after the transaction ends and transfer all on-site equipment to Riot.