Riot Blockchain Sues Northern Data Over Disclosures Related to Texas Bitcoin Mine Acquisition

Riot Blockchain Sees 2022 as Year of Consolidation in Bitcoin Mining Sector

In the lawsuit filed on Sept. 7 in a Delaware court, Riot claims that Germany’s Northern Data failed to disclose $84 million in liabilities to a third party, which the third party asked for in April of this year. At the time, Riot was trying to negotiate the final closing price for the acquisition but Northern Data “delayed and obfuscated,” the lawsuit claims. Riot also says that Northern Data continues to stall negotiations and has delayed paying almost $114 million it owes to Riot.

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