Share this article
Bitcoin Miner Riot Blockchain Buys Electrical Equipment Provider ESS Metron for $50M
The deal will ensure the steady supply of equipment for Riot’s new mining machines.
By Aoyon Ashraf
Updated May 11, 2023, 7:05 p.m. Published Dec 1, 2021, 3:57 p.m.
Riot Blockchain (RIOT), one of the world’s largest bitcoin mining companies, is buying electrical equipment provider ESS Metron for $50 million, consisting of up to 715,41 Riot shares and $25 million in cash, according to a press release.
- Denver-based ESS Metron is a key supplier to Riot’s Whinstone, Texas, facility and provides “highly engineered, custom product offerings” that are used to deploy bitcoin mining operations at scale.
- Riot said the acquisition will help ensure the timely installation of its new miners as ESS Metron provides critical infrastructure.
- “Riot’s strategic position across the electrical supply chain is significantly enhanced as the company will benefit from ESS Metron’s existing relationships with leading electrical suppliers globally,” Riot CEO Jason Les said in the release.
- Riot also said that ESS Metron has helped it develop its customized immersion-cooling technology for its 200 megawatt expansion project.
- Riot shares were up 6.8% to $39.92 on Wednesday morning ET.
- On Nov. 3, Riot Blockchain increased its forecast for bitcoin mining computing power to 8.6 exahash per second (EH/s) from its previous estimate of 7.7 EH/s for next year. The increase doesn’t include any potential benefits from the use of its immersion-cooled technology.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Firm Tether Says It Wants to Take Over Italian Football Club Juventus
The issuer behind the most popular stablecoin said that if the bid succeeds, it prepares to invest $1 billion in the football club.
What to know:
- Tether said it aims to take over popular Italian football club Juventus FC.
- The firm proposed to acquire Exor's 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares.
- Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world's dominant stablecoin with a $186 billion market capitalization.
Top Stories
