In May 2021 Riot announced the acquisition of Whinstone U.S., the owner operator of North America’s single largest Bitcoin mining and hosting facility. Whinstone is based in Rockdale, Texas and its facility is located on an 100-acre site, hosting Bitcoin mining customers in three buildings totaling 190,000 square feet. The site is subject to a long-term lease agreement, with electricity provided via a long-term power supply contract.

Whinstone’s comprehensive energy management strategy delivers best-in-class energy costs of 2.5 cents per kWh.

Whinstone’s site has a total power capacity of 750 MW, with 300 MW currently developed. Whinstone’s facility is believed to be the largest single facility, as measured by developed capacity, in North America for Bitcoin mining. Whinstone currently hosts Bitcoin mining operations for three institutional clients who, by the end of 2021, are expected to utilize up to 200 MW of aggregate power capacity. In addition to hosting revenue,