Riot Platforms takes over Block Mining

Our funding roundup starts with a takeover. On July 24, Bitcoin mining firm Riot Platforms said it had acquired Block Mining, a Kentucky-based Bitcoin miner, in a $92.5 million deal.

According to Riot, this acquisition could potentially increase its operational capacity by 60 megawatts, with plans to expand to 110 MW by the end of 2024. 

Riot paid $18.5 million in cash and $74 million in common stock for the acquisition.

NPC Labs, $18 million

Web3 gaming infrastructure startup NPC Labs, founded by three former Coinbase employees, raised $18 million in a seed funding round. 

Pantera Capital led the round, with participation from Mantle EcoFund, Makers Fund, Bitscale Capital, Hashed, Mirana Ventures, and Collab+Currency.

It brings the total amount of money raised by the project to $21 million after it raked in $3 million in a recent pre-seed round.

NPC Labs said it will use the funding to bring in new members to the team, especially engineers. It is also angling to increase the adoption of on-chain gaming through its gaming scaling ecosystem, B3.fun, which is built on Base.