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In a latest development, Riot platform has yet again made a BTC purchase, as the company disclosed that with the additional proceeds from it’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC.
With the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC. As a result, Riot has increased its holdings to 17,429 BTC, currently valued at $1.8 billion based on the… pic.twitter.com/t68Uy8nbHU
— Riot Platforms, Inc. (@RiotPlatforms) December 16, 2024
The purchase, made on December 12-13, boosted Riot’s total bitcoin holdings to 17,429 tokens, currently valued at $1.8 billion based on the current market price of BTC of $103,873. Riot also shared that through this acquisition and mining production YTD, it has generated a BTC Yield Per Share of 36.7% QTD, and 37.2% YTD.
Notably, Bitcoin had surged above $106K earlier in Monday’s trading session, reaching a fresh high and is currently trading at $104,841, up over 1% in the last 24 hours.
Just recently, the company had acquired 5,117 BTC at an average price of $99,669 per BTC, inclusive of fees and expenses. Riot’s acquisition underscores the ongoing interest and investment in Bitcoin by major industry players, despite the volatile nature of the market. Riot’s decision to acquire Bitcoin highlights its commitment to the Bitcoin’s potential for growth in the future.