Bitcoin Miner Riot Blockchain Buys ESS Metron For $50 Million

Bitcoin Mining Take Us To The Moon



  • Riot Blockchain has bought the electrical equipment provider ESS Metron.
  • The deal is valued at $50 million, paid in 715,413 Riot common stock shares and $25 million in cash.
  • Denver-based ESS Metron is a crucial supplier to Riot’s Whinstone, Texas, facility.

Bitcoin miner Riot Blockchain has acquired electrical equipment solutions provider ESS Metron, according to a press release published Wednesday. The transaction is valued at about $50 million, and the payment will be made in 715,413 shares of Riot common stock and $25 million in cash.

“The successful acquisition of ESS Metron marks yet another milestone in establishing Riot as a leader in Bitcoin mining,” Riot CEO Jason Les said in the release. “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.”



Source link

Leave a Comment

Your email address will not be published. Required fields are marked *