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.
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