Riot Platforms Raises $500M via Convertible Notes to Buy Bitcoin

Dec 9, 2024, 12:16 PM

Riot Platforms Inc., a publicly traded Bitcoin mining company, has announced a proposed private offering of $500 million in convertible senior notes. The company plans to use the net proceeds primarily to acquire Bitcoin and for general corporate purposes. This move is seen as following a strategy similar to that of MicroStrategy, which has been actively investing in Bitcoin.