Riot plans to acquire Rhodium's Bitcoin mining assets in Rockdale for $185 million to resolve disputes

ChainCatcher news, according to The Miner Mag, Riot Platforms plans to acquire the Bitcoin mining facility assets of Rhodium Encore located in Rockdale, Texas, for $185 million to resolve the litigation 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 miners and 125 megawatts of power capacity.

The transaction proposal includes Riot paying $129.9 million in cash, returning a $6.1 million power security deposit, and issuing $49 million worth of Riot stock. If the transaction is completed, Rhodium will vacate the Rockdale site within three business days after the deal closes and transfer all on-site equipment to Riot.