Riot Platforms Announces Potential Acquisition of Rhodium Assets at Rockdale Facility

On March 21, 2025, Riot Platforms, Inc. announced it has entered a non-binding term sheet to acquire specific assets of Rhodium Encore LLC at its Rockdale, Texas facility. The proposed deal, valued at $185 million, includes $129.9 million in cash, a $6.1 million return of Rhodium’s power security deposit, and $49 million in Riot shares.

Following the transaction, Rhodium will vacate the Rockdale site within three business days, transferring all tangible assets—including ASIC miners—to Riot. Riot will then assume Rhodium’s 125 MW of power capacity, gaining full control over the site’s power usage. The agreement includes a mutual release of all existing litigation and future claims not tied to the transaction.

The deal is contingent on approval from the bankruptcy court and the execution of definitive agreements. Riot plans to provide updates as the process moves forward. The company continues to pursue a vertically integrated strategy in Bitcoin mining and infrastructure, with operations in Texas, Kentucky, Colorado, and Houston.