Benzinga | Jan 3, 2022 04:40PM EST

Riot Blockchain 8-K Shows Co. Entered Non-Fixed Price Sales, Purchase Deal With Bitmain To Buy 18K Antminer Model S19 XP Bitcoin Computers For $202.86M

On December 27, 2021, Riot Blockchain, Inc. ("Riot," "us," "we," "our," or the "Corporation") entered into a Non-Fixed Price Sales and Purchase Agreement, dated effective as of December 24, 2021, (the "Purchase Agreement") with Bitmain Technologies Limited ("Bitmain") to acquire 18,000 Antminer model S19 XP Bitcoin mining computers (the "Miners") for a total purchase price of approximately $202.86 million (subject to adjustments, offsets and costs as set forth in the Purchase Agreement) (the "Purchase Price"). Pursuant to the Purchase Agreement, approximately 3,000 Miners will be delivered each month between July and December 2022. Riot paid to Bitmain a refundable down payment of 35% of the total Purchase Price in connection with the execution of the Purchase Agreement, and, subject to the terms and conditions of the Purchase Agreement, will pay to Bitmain the remainder of the Purchase Price in tranches in advance of the monthly shipment dates, as set forth in the Purchase Agreement.