Bitcoin Miner Riot Blockchain Buys Electrical Equipment Provider ESS Metron for $50M

Posted on by American Coins & Gold

Bitcoin Miner Riot Blockchain Buys Electrical Equipment Provider ESS Metron for 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…