TechFlow News, March 24 — According to The Miner Mag, Riot Platforms plans to acquire assets of Rhodium Encore's Bitcoin mining facility in Rockdale, Texas, for $185 million to resolve the litigation dispute between the two companies.
As announced 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 miners and 125 megawatts of power capacity.
The deal includes Riot paying $129.9 million in cash, returning a $6.1 million power security deposit, and issuing $49 million worth of Riot shares. If the transaction is completed, Rhodium will vacate the Rockdale site within three business days after closing and transfer all on-site equipment to Riot.
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