Share this article
Riot Blockchain Acquires Whinstone’s Texas Bitcoin Mining Operations
The firm is acquiring the facility with the goal of “increasing the American footprint in the global bitcoin mining landscape.”
Updated Sep 14, 2021, 12:38 p.m. Published Apr 8, 2021, 1:53 p.m.
Make us preferred on Google
Nasdaq-listed mining company Riot Blockchain (NASDAQ: RIOT) is acquiring Whinstone US, Inc. data center operations in Texas from Northern Data AG.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Riot Blockchain said Thursday it has signed an agreement to acquire the firm's Texas operations for $80 million cash and 11.8 million shares of Riot stock at a total value of $651 million, with the goal of “increasing the American footprint in the global bitcoin mining landscape.”
Acquired in 2019 by Germany’s Northern Data AG, a developer and operator of high-performance computing (“HPC”) infrastructure solutions, Whinstone US operates a high-performance bitcoin mining facility based in Rockdale, Texas, with a 300-megawatt capacity, which can be rapidly expanded by an additional 450 MW, according to Riot Blockchain.
“Riot will wholly own the largest bitcoin mining facility in North America, with very low power costs, and one of the most talented development teams in the industry, ” said Jason Les, CEO of Riot Blockchain.
Bitcoin mining synergies
Once the deal closes, Northern Data will own 12% of the total outstanding common stock of Riot Blockchain.
“Through its equity stake in Riot, Northern Data will be able to benefit from the synergies generated by the transaction and continues to directly participate in the growth of bitcoin value potential,” said Aroosh Thillainathan, CEO of Northern Data.
“Simultaneously, Northern Data will be able to use the cash proceeds from the transaction to focus on, and further implement, its decentralized, multi-site, scalable and [environmental, social and corporate governance]-focused strategy.”
Read more: Riot Blockchain Signs Contract to Purchase 42,000 Mining Machines From Bitmain
On Wednesday, Riot announced it had inked an agreement to purchase 42,000 mining machines from Bitmain Technologies, increasing the firm’s bitcoin mining hashrate by 93%.
At the time of publication Riot Blockchain shares were trading up 3.62% at $50.12 on Thursday.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
