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What will be Riot Platforms' primary use of the $500M raised by December 31, 2025?
2
Resolution / Starting Odds
Bitcoin acquisition • 25%
Debt repayment • 25%
Other investments • 25%
General corporate purposes • 25%
Riot Platforms' official press releases or financial statements
Story
Riot Platforms to Raise $500M via Convertible Notes for Bitcoin Acquisition
Dec 9, 2024, 12:21 PM
Riot Platforms Inc., a publicly traded Bitcoin mining company, has announced plans to raise $500 million through a private offering of convertible senior notes due in 2030. The company intends to use the net proceeds primarily to acquire Bitcoin for its corporate treasury and for general corporate purposes. This move follows a similar strategy previously adopted by companies like MicroStrategy Inc. and Marathon Digital Holdings Inc., which have also invested in Bitcoin for their corporate treasuries. The announcement led to a 6.5% drop in Riot Platforms' shares during premarket trading.
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Similar markets
Bitcoin acquisition • 25%
Expansion of mining operations • 25%
Debt repayment • 25%
Other corporate purposes • 25%
Bitcoin acquisition • 25%
Infrastructure development • 25%
Debt repayment • 25%
Other corporate purposes • 25%
Bitcoin Mining • 25%
AI Data Centers • 25%
Convertible Bonds • 25%
Other • 25%
Yes • 50%
No • 50%
Aggressive Acquisition • 25%
Moderate Acquisition • 25%
No Further Acquisition • 25%
Divestment • 25%
Yes • 50%
No • 50%
Coinbase • 25%
Binance • 25%
Kraken • 25%
Other • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes, by March 31, 2025 • 25%
Yes, by June 30, 2025 • 25%
No increase • 25%
Decrease • 25%