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Riot Platforms Buys 5,117 Bitcoins at $99,669 Each, Increasing Holdings to 16,728 BTC
Dec 13, 2024, 02:10 PM
Between December 10 and December 12, 2024, Riot Platforms Inc., a publicly traded Bitcoin mining company, acquired 5,117 Bitcoins for approximately $510 million. The purchase was made at an average price of $99,669 per Bitcoin, inclusive of fees and expenses. The acquisition was financed using net proceeds from Riot's recent $525 million offering of 0.75% convertible senior notes due 2030. This transaction increased Riot's total Bitcoin holdings to 16,728 Bitcoins, currently valued at $1.68 billion. The company aims to strengthen its position in the cryptocurrency market and fund general corporate purposes.
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