Castle Rock, CO 80104, May 26, 2021 (GLOBE NEWSWIRE) — Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Company”) as we speak introduced that it has accomplished its beforehand introduced acquisition of Whinstone US (“Whinstone”) from Northern Data (XETRA: NB2). The complete consideration paid within the transaction was 11.8 million shares of Riot widespread inventory and $80 million in money, funded with money on the steadiness sheet.
“The profitable acquisition of Whinstone marks essentially the most vital milestone in Riot’s historical past, and firmly establishes the Company as a number one Bitcoin mining platform,” stated Jason Les, CEO of Riot. “With Whinstone’s preeminent infrastructure and best-in-class building, growth, and operations group, Riot is extraordinarily well-positioned to extend the dimensions and scope of its operations. We welcome the proficient Whinstone staff to the Riot household, and I stay up for main our mixed crew as we collectively execute upon the Company’s mission to turn into one of essentially the most related and vital corporations supporting the Bitcoin community and larger Bitcoin ecosystem.”
“We are extremely proud of the Whinstone crew and sincerely appreciative of the Rockdale group that has supported us since we first broke floor in early 2020,” stated Chad Harris, CEO of Whinstone. “We stay up for partnering with the Riot crew to advance our pursuit of creating America’s main Bitcoin mining firm.”
Riot plans to instantly begin additional growth of extra services at Whinstone to be able to quickly deliver the property to its present capability of 750 MW. With this capability enlargement, the Company’s intention is to ship its future dedicated miner order deliveries to Whinstone, which is able to enable Riot to seize vital synergies, together with decrease direct power prices and operational prices.
Commencing in early 2020, the Whinstone crew has efficiently constructed the biggest Bitcoin internet hosting facility in North America, as measured by developed capability. Whinstone’s complete power administration technique delivers best-in-class internet power prices of roughly 2.5 cents per kWh using cutting-edge know-how and complete analytics to ship industry-leading low price, dependable and responsive energy.
XMS Capital Partners, LLC served as unique monetary advisor and Sidley Austin LLP served as authorized advisor to Riot.
Riot will host a dwell convention name at 8:30 am ET on May 27, 2021 to debate extra particulars in regards to the transaction. Further particulars could also be discovered at http://www.tinyurl.com/RiotIR. The presentation may also be out there on the Riot web site.
About Riot Blockchain, Inc.
Riot Blockchain (NASDAQ: RIOT) focuses on mining Bitcoin and internet hosting Bitcoin mining gear for purchasers. The Company is increasing and upgrading its mining operations by securing essentially the most power environment friendly miners at present out there. Riot is headquartered in Castle Rock, Colorado, and the Company’s present mining facility operates out of Rockdale, TX. The Company additionally has mining gear working in upstate New York underneath a co-location internet hosting settlement with Coinmint. For extra data, go to www.RiotBlockchain.com.
Safe Harbor
The data offered on this press launch could embody forward-looking statements inside the which means of the federal securities legal guidelines, together with as to the results of the acquisition by the Company of Whinstone and the longer term monetary efficiency and operations of the Company and Whinstone. Because such statements are topic to dangers and uncertainties, precise outcomes could differ materially from these expressed or implied by such forward-looking statements. Words resembling “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and related expressions are supposed to determine forward-looking statements. Forward-looking statements are based mostly upon present expectations of the Company and contain assumptions which will by no means materialize or could show to be incorrect. Actual outcomes and the timing of occasions might differ materially from these anticipated in such forward-looking statements because of this of varied dangers and uncertainties. These forward-looking statements could embody, however will not be restricted to, statements about the advantages of the acquisition of Whinstone, together with monetary and working outcomes, and the Company’s plans, targets, expectations and intentions. Among the dangers and uncertainties that might trigger precise outcomes to vary from these expressed in forward-looking statements are: (1) the combination of the companies of the Company and Whinstone will not be profitable, or such integration could take longer or be harder, time-consuming or pricey to perform than anticipated; and (2) failure to in any other case understand anticipated efficiencies and strategic and monetary advantages from the acquisition of Whinstone. Detailed data relating to different components which will trigger precise outcomes to vary materially from these expressed or implied by statements on this press launch could also be discovered within the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), together with within the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-Okay for the fiscal yr ended December 31, 2020, which was filed with the SEC on March 31, 2021 and subsequently amended in a submitting with the SEC on April 30, 2021, and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, which was filed with the SEC on May 17, 2021, and within the extra threat components set forth within the Company’s Current Report on Form 8-Okay filed with the SEC on May 26, 2021, copies of which can be obtained from the SEC’s web site at www.sec.gov. All forward-looking statements included on this press launch are made solely as of the date of this press launch, and the Company doesn’t undertake any obligation to publicly replace or appropriate any forward-looking statements to replicate occasions or circumstances that subsequently happen, or of which the Company hereafter turns into conscious, besides as required by legislation.
