Riot, SBI Crypto reach $20 million settlement in Texas bitcoin mining dispute
Riot Platforms settled a three-year legal dispute with SBI Crypto for $20 million over a terminated bitcoin mining hosting agreement.Summary
Riot Platforms agreed to pay SBI Crypto $20 million in cash to resolve a three-year legal battle concerning a terminated bitcoin mining hosting deal at Riot's Whinstone facility in Rockdale, Texas. The settlement was verbally agreed upon on February 16, just a week after the trial began. SBI Crypto had initially sued Whinstone (which Riot acquired in 2021) alleging breach of contract, fraud, and negligent bailment, seeking over $175 million in lost profits plus equipment costs. Before the settlement, the court granted Riot partial summary judgment, preventing SBI from using appreciated bitcoin prices in its damages model. This resolution follows another major legal exit for Riot's Whinstone subsidiary, which settled a separate contract dispute for $185 million in April 2025.
(Source：The Block)