Market
What will be the outcome of Riot Platforms' Bitcoin acquisition strategy by December 31, 2025?
2
Resolution / Starting Odds
Successfully increases Bitcoin holdings significantly • 25%
Increases holdings but faces financial strain • 25%
Fails to increase holdings significantly • 25%
Abandons acquisition strategy • 25%
Riot Platforms official press releases or financial reports
Story
Riot Platforms to Raise Up to $575 Million via Convertible Notes to Acquire Bitcoin
Dec 9, 2024, 12:40 PM
Riot Platforms (NASDAQ: RIOT), a leading U.S. Bitcoin mining company, announced a proposed private offering of $500 million of convertible senior notes due 2030, with an option for initial purchasers to buy an additional $75 million of notes. The net proceeds from the offering are intended to be used primarily for the acquisition of Bitcoin and for general corporate purposes. This move mirrors strategies employed by companies like MicroStrategy and Marathon Digital Holdings (MARA) to increase Bitcoin holdings through convertible debt offerings. Following the announcement, shares of Riot Platforms were down 6.5% in premarket trading.
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Similar markets
Negative reaction • 25%
Neutral reaction • 25%
Positive reaction • 25%
Mixed reaction • 25%
Aggressive Acquisition • 25%
Divestment • 25%
No Further Acquisition • 25%
Moderate Acquisition • 25%
Less than 1,000 BTC • 25%
1,000 to 3,000 BTC • 25%
3,001 to 5,000 BTC • 25%
More than 5,000 BTC • 25%
1,000 - 1,499 BTC • 25%
1,500 BTC or more • 25%
Less than 500 BTC • 25%
500 - 999 BTC • 25%
25,001 to 30,000 BTC • 25%
20,000 to 25,000 BTC • 25%
Less than 20,000 BTC • 25%
More than 30,000 BTC • 25%
More than 20,000 BTC • 25%
Less than 16,000 BTC • 25%
16,000 - 18,000 BTC • 25%
18,001 - 20,000 BTC • 25%
Riot underperforms Bitcoin • 25%
Other • 25%
Riot outperforms Bitcoin • 25%
Riot performs similarly to Bitcoin • 25%
No • 50%
Yes • 50%