The company will also become one of the first validators on the Berachain mainnet.
The company received takeover interest from a potential investor while conducting a Series B funding round.
The acquisition of ETC Group's $1 billion in assets under management takes Bitwise's AUM above $4.5 billion.
Riot will have the second-largest capacity among U.S. listed bitcoin miners following the acquisition, and the deal serves as the latest evaluation of underdeveloped power assets, the report said.
Valdi allows customers to use available GPU compute cycles in data centers across the world.
The digital asset industry added more than $750 billion in value in the first half of the year, the report said.
Riot is Bitfarms' largest shareholder, owning 14.9% of the firm.
Crypto is becoming an increasingly important part of Robinhood’s business, accounting for 20% of total revenue in the first quarter, the report said.
The stocks are undervalued, so miners with attractive power contracts could become M&A targets, according to Wall Street analysts.
Experts said newcomers in the bitcoin investing game could be enticed by Grayscale, the incumbent with a huge lead.
Strong miners might be about to eat the weak ones as the reward for mining BTC gets cut in half, experts say.