Riot Platforms Enters Non-Binding $185 Million Agreement to Acquire Rhodium Encore Assets, Settle Legal Claims

MT Newswires Live03-24

Riot Platforms (RIOT) said Friday it has entered a non-binding term sheet for a potential $185 million acquisition by its Whinstone US subsidiary of assets owned by Rhodium Encore at Riot's Rockdale facility and the filing of a motion to approve a settlement in Rhodium's bankruptcy case.

According to the terms outlined in the term sheet, Whinstone or an affiliate will pay Rhodium $129.9 million in cash, a $6.1 million return of Rhodium's security deposit, and $49.0 million in Riot shares, the company said.

In exchange, Riot will assume ownership of all tangible property located at Rockdale, including miners, and Rhodium will vacate the site within three business days after the closing of the transaction, the company said.

Under the term sheet, Whinstone and Rhodium will also dismiss all existing litigation and release any and all future claims not connected to the closing of the transaction, the company said.

The transaction and settlement will be subject to bankruptcy court approval, the company said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2521474702?lang=en_US&edition=full_marsco","thumbnail":"","is_english":true,"pubTime":"2025-03-24 20:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2521474702","market":"hk","top_or_hot":-1,"title":"Riot Platforms Enters Non-Binding $185 Million Agreement to Acquire Rhodium Encore Assets, Settle Legal Claims","media":"MT Newswires Live","content":"<html><body><p> <a href=\"https://laohu8.com/S/RIOT\">Riot Platforms</a> (RIOT) said Friday it has entered a non-binding term sheet for a potential $185 million acquisition by its Whinstone US subsidiary of assets owned by Rhodium Encore at Riot's Rockdale facility and the filing of a motion to approve a settlement in Rhodium's bankruptcy case.</p><p>According to the terms outlined in the term sheet, Whinstone or an affiliate will pay Rhodium $129.9 million in cash, a $6.1 million return of Rhodium's security deposit, and $49.0 million in Riot shares, the company said.</p><p>In exchange, Riot will assume ownership of all tangible property located at Rockdale, including miners, and Rhodium will vacate the site within three business days after the closing of the transaction, the company said.</p><p>Under the term sheet, Whinstone and Rhodium will also dismiss all existing litigation and release any and all future claims not connected to the closing of the transaction, the company said.</p><p>The transaction and settlement will be subject to bankruptcy court approval, the company said.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Riot Platforms Enters Non-Binding $185 Million Agreement to Acquire Rhodium Encore Assets, Settle Legal Claims</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRiot Platforms Enters Non-Binding $185 Million Agreement to Acquire Rhodium Encore Assets, Settle Legal Claims\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-03-24 20:12</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> <a href=\"https://laohu8.com/S/RIOT\">Riot Platforms</a> (RIOT) said Friday it has entered a non-binding term sheet for a potential $185 million acquisition by its Whinstone US subsidiary of assets owned by Rhodium Encore at Riot's Rockdale facility and the filing of a motion to approve a settlement in Rhodium's bankruptcy case.</p><p>According to the terms outlined in the term sheet, Whinstone or an affiliate will pay Rhodium $129.9 million in cash, a $6.1 million return of Rhodium's security deposit, and $49.0 million in Riot shares, the company said.</p><p>In exchange, Riot will assume ownership of all tangible property located at Rockdale, including miners, and Rhodium will vacate the site within three business days after the closing of the transaction, the company said.</p><p>Under the term sheet, Whinstone and Rhodium will also dismiss all existing litigation and release any and all future claims not connected to the closing of the transaction, the company said.</p><p>The transaction and settlement will be subject to bankruptcy court approval, the company said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4516","symbol_name":"特朗普概念","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2521474702","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2521474702","pubTimestamp":1742818344,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Riot Platforms  said Friday it has entered a non-binding term sheet for a potential $185 million acquisition by its Whinstone US subsidiary of assets owned by Rhodium Encore at Riot's Rockdale facility and the filing of a motion to approve a settlement in Rhodium's bankruptcy case.According to the terms outlined in the term sheet, Whinstone or an affiliate will pay Rhodium $129.9 million in cash, a $6.1 million return of Rhodium's security deposit, and $49.0 million in Riot shares, the company said.In exchange, Riot will assume ownership of all tangible property located at Rockdale, including miners, and Rhodium will vacate the site within three business days after the closing of the transaction, the company said.Under the term sheet, Whinstone and Rhodium will also dismiss all existing litigation and release any and all future claims not connected to the closing of the transaction, the company said.The transaction and settlement will be subject to bankruptcy court approval, the compan","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4516":"特朗普概念","BK4595":"比特币概念","BK4023":"应用软件","BK4600":"加密货币概念","RIOT":"Riot Platforms"},"translate_title":"Riot Platforms签订不具约束力的1.85亿美元协议收购Rhodium Encore资产并解决法律索赔","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIOT":1},"content_text":"Riot Platforms (RIOT) said Friday it has entered a non-binding term sheet for a potential $185 million acquisition by its Whinstone US subsidiary of assets owned by Rhodium Encore at Riot's Rockdale facility and the filing of a motion to approve a settlement in Rhodium's bankruptcy case.According to the terms outlined in the term sheet, Whinstone or an affiliate will pay Rhodium $129.9 million in cash, a $6.1 million return of Rhodium's security deposit, and $49.0 million in Riot shares, the company said.In exchange, Riot will assume ownership of all tangible property located at Rockdale, including miners, and Rhodium will vacate the site within three business days after the closing of the transaction, the company said.Under the term sheet, Whinstone and Rhodium will also dismiss all existing litigation and release any and all future claims not connected to the closing of the transaction, the company said.The transaction and settlement will be subject to bankruptcy court approval, the company said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation,merge","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.32.1","shortVersion":"4.32.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2521474702"}