Riot Platforms, Inc. (NASDAQ: RIOT) has finalized the acquisition of Rhodium Encore LLC’s assets at the Rockdale Facility for $185 million.

The transaction includes 125 megawatts (MW) of power capacity and all tangible assets, such as ASIC miners, previously under Rhodium’s operation.

The acquisition terminates legacy hosting contracts with Rhodium, which generated a gross loss of approximately $15 million in fiscal year 2024.

These contracts had a remaining term of 5 years and 9 months as of March 31, 2025.

The total consideration for the transaction comprises $129.9 million in cash, a $6.1 million return of Rhodium’s power security deposit, and $49.0 million in Riot common stock. This structure allows Riot to preserve liquidity while acquiring valuable assets.

With the acquisition, Riot assumes full control of the Rockdale Facility’s power capacity, enabling the company to optimize its Bitcoin mining operations.

The deal also includes the dismissal of all existing litigation between Riot’s subsidiary Whinstone US and Rhodium, reducing legal expenses and operational uncertainty.

Riot’s CEO, Jason Les, stated that the transaction marks a significant milestone for the company, expanding available power capacity, adding additional operating hash rate, and leading to reduced litigation expenses.

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