Riot Platforms Inc. Boosts Bitcoin Holdings with $510M Purchase

Dec 13, 2024, 02:06 PM

Riot Platforms Inc., a publicly traded Bitcoin mining company, has significantly expanded its cryptocurrency holdings by acquiring 5,117 Bitcoin for approximately $510 million. The purchase was made between December 10 and December 12, 2024, at an average price of $99,669 per Bitcoin, inclusive of fees and expenses. This acquisition increases Riot's total Bitcoin holdings to 16,728, with the company having utilized the net proceeds from a recent $525 million, 0.75% coupon convertible bond issue to fund the transaction.