Riot Platforms, Inc. acquires Block Mining, Inc. to expand Bitcoin mining operations and power capacity
Jul 23, 2024•about 1 year ago
Acquiring Company
Riot Games
Acquired Company
Block Mining
KentuckyCryptocurrencyMiningBlockchainDescription
Riot Platforms, Inc., a leading vertically integrated Bitcoin mining company, has acquired Block Mining, Inc., a Kentucky-based Bitcoin miner, for a total consideration of $92.5 million. With this acquisition, Riot aims to increase its hash rate, expand its geographical footprint, harness additional energy markets, and achieve its growth target of 100 EH/s in Bitcoin mining operations.
FundzWatch™ Score
86
High M&A Activity
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed