Riot Platforms agrees to pay $20 million in cash to SBI Crypto to settle a three-year-long lawsuit related to the Bitcoin mining storage agreement at the Whinstone facility in Rockdale, Texas. The settlement was reached on February 16, just one week after the trial began at the U.S. District Court in Western Texas.
The lawsuit originated in April 2023 when SBI accused Riot of breach of contract and demanded over $175 million in damages, later increasing the claim to over $350 million. However, the court dismissed part of the damages claim based on the rising Bitcoin prices.
Meanwhile, Whinstone also finalized the “Rhodium Settlement” agreement worth $185 million in 2025. Riot reported revenue of $647 million in 2025, mined 5,686 BTC, and holds more than 18,000 BTC.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Crypto Social Buzz: Bitcoin, Ethereum, and Emerging Coins Lead Discussion
Bitcoin hits 20M mined coins, fueling debates on supply, institutional buys, and market control.
Zcash seed round and privacy tech drive social buzz, while Tether gains attention via USAT launch.
Ethereum staking, Dogecoin rumors, and TRON AI partnerships dominate crypto social
CryptoFrontNews1h ago
Arthur Hayes Bold Bitcoin Statement As Gold and Nasdaq-100 Slip
Since the Middle East conflict began on February 28, longtime crypto observer Arthur Hayes noted on social media that Bitcoin has quietly outperformed traditional safe havens and major tech benchmarks. Hayes pointed to a roughly 7 percent gain in Bitcoin since the strikes began, compared with a 2 pe
BlockChainReporter1h ago
