Block Mining Inc. Acquisition by Riot Platforms
August 22, 2024
We’re excited to celebrate our investor, Block Mining Inc., on their recent acquisition by Riot Platforms for $92.5 million. Riot Platforms is a leading Bitcoin-driven infrastructure platform operating North America's largest Bitcoin mining facility. With a focus on merging money and energy, Riot's acquisition of Block Mining Inc. will boost their operational capacity by 60 MW, with plans to expand to 110 MW by the end of 2024 and potentially over 300 MW in Kentucky.
GPED has been partnered with Block Mining since its opening in 2021. The company chose to locate in Paducah due to its favorable business environment and access to renewable energy sources, aligning with its focus on sustainable Bitcoin mining.
We’re thrilled to have supported this transaction and look forward to the continued success of Block Mining Inc. under its new ownership. Their ongoing investment in Paducah is a testament to the strength of our community.
Read more about the acquisition here.
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