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
XRP Price Prediction: Ripple Trades Below Key Moving Averages as the 20 Millionth Bitcoin Approaches and Pepeto Targets 267x Returns
Grayscale confirmed the 20 millionth Bitcoin will be mined in March 2026, leaving only 1 million BTC left to ever exist, and when 95% of a finite asset is already circulating, the scarcity narrative reshapes how every trader thinks about value.
The xrp price prediction shows Ripple at $1.37 b
CaptainAltcoin35m ago
The Origin Story of Sunny Lu: From a 100 BTC Scam to Building VeChain
VeChain’s Sunny Lu got into crypto after losing $300 on an unsuccessful 100 BTC purchase on Taobao, which led him to research Bitcoin.
Later, Lu used blockchain to track supply chains and launched VeChain in 2015 to target verification and enterprise applications.
The crypto journey of Sunny
CryptoNewsFlash1h ago
