CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-05-27 12:01:20

Riot Blockchain stock gains 3% after completing Whinstone US buy

Riot Blockchain (RIOT) climbs 3.0% in premarket trading after it completes its previously announced acquisition of Whinstone US from Northern Data.The company paid 11.8M shares of Riot stock and $80M in cash, funded with cash on its balance sheet.Riot plans to immediately start further development of additional facilities at Whinstone to bring the property to its current capacity of 750 MW. With the capacity expansion, the company intends to send its future committed miner order deliveries to Whinstone, which will allow Riot to capture synergies, including lower direct energy costs and operational costs.Starting in early 2020, Whinstone built the largest bitcoin hosting facility in North America, as measured by developed capacity, Riot said.Conference call at 8:30 AM ET.Bitcoin (BTC-USD) is holding relatively stable at ~$39.8K.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.