2024

Bitcoin

Riot Platforms, the Bitcoin driven infrastructure platform owning and operating North America’s largest bitcoin mining facility, raised $525 million by issuing convertible bonds with a low 0.75% coupon rate. With this proceeds, Riot purchased an additional 5,117 bitcoins at an average price of $99,669, including fees and expenses.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="489" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Riot-buys-Bitcoins-489x484.png" alt="Riot buys 5,117 Bitcoin" class="wp-image-222978">
 <figcaption class="wp-element-caption">
 Riot buys 5,117 Bitcoin, Source: <a href="https://x.com/RiotPlatforms/status/1867570759704420356?t=8mx2YeiElLv0djP4nyZJVA&amp;s=19" target="_blank" data-type="link" data-id="https://x.com/RiotPlatforms/status/1867570759704420356?t=8mx2YeiElLv0djP4nyZJVA&amp;s=19" rel="noopener noreferrer nofollow">X</a>
 </figcaption>
 </figure>
</div>
After this purchase, the total bitcoin holding of Riot has reached 16,728.&nbsp; At the current market price of Bitcoin, at around $100,303 per BTC, these holdings are now valued at approximately $1.68 billion.
Riot’s strategy seems to be focusing on expanding its Bitcoin reserves, positioning itself as a major holder of the cryptocurrency.
In August, Riot Platforms <a href="https://www.cryptotimes.io/2024/08/01/riot-platforms-reports-84-4-million-net-loss-for-q2-2024/" target="_blank" rel="noopener noreferrer nofollow">revealed a Q2 2024 net loss of $84.4 million</a>, or $0.32 per share, its first quarterly loss since Q4 2022.
This latest purchase of Bitcoin reflects broader trends in the crypto industry, where institutional investors and large companies are increasingly holding onto Bitcoin as a store of value.&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/12/09/microstrategy-buys-21550-bitcoin-for-2-1-billion/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy Buys 21,550 Bitcoin for $2.1 billion</a>
</blockquote>

Riot Acquires 5,117 Bitcoins more for $525 Million

The Crypto Times

Other articles published on Dec 13, 2024

Trump Advisers Explore Restructuring Banking Regulators

VanEck’s Crypto Predictions for 2025: Bull Market, Bitcoin Reserves, AI Agents, and More

BlockDAG’s Growth Sparks $1 Forecast — Insights on XRP and TRON Trends

Top 5 Stablecoins to Invest in for 2025 as Altcoin Season Looms

$TICS Price Set to Skyrocket! See Why Qubetics Is the Future While Avalanche’s Gaming Push and Aa...

Japanese Politician SATOSHI Questions Global Bitcoin Reserve Strategies

Join our free newsletter for daily crypto updates!