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Home Tech Crypto Riot Blockchain is set to acquire a Texas data facility for $650M

Riot Blockchain is set to acquire a Texas data facility for $650M

Document Analysis NLP IA

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neutral
sentiment

Sentiment0.025744047619048
objective
redaction

Subjectivity0.33735119047619
it's an affirmation
Affirmation0.5472972972973

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Key Concepts (and relevance score)

Summary (IA Generated)

Riot Blockchain is continuing its Bitcoin (BTC) mining expansion efforts.

S.

based miner is set to purchase Whinstone US Inc, currently owned by Northern Data.

Indeed, upon the completion of the transaction, Riot Blockchain is expected to become the largest publicly traded Bitcoin mining enterprise in North America based on operating capacity metrics.

For Riot Blockchain, the Whinstone acquisition offers an opportunity for the company to upscale its Bitcoin mining capacity.

In its own announcement of the deal, Northern Data revealed that the Whinstone sale to Riot Blockchain will not negatively impact its earnings before interest, taxes, depreciation, and amortization.

Indeed, Cointelegraph recently reported that Riot Blockchain purchased 42,000 Antminer rigs from Bitmain for about $138 million.

The company’s efforts are indicative of the larger push by Bitcoin miners based in North America to challenge China’s BTC hash rate dominance.


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