Key Takeaways
Riot Platforms has successfully raised $525 million through a senior note offering to finance its Bitcoin purchases and operations. As disclosed in a filing with the Securities and Exchange Commission (SEC), the offering will mature in 2030 and carries a 0.75% interest rate. The funds raised will be used for acquiring additional Bitcoin and supporting general corporate activities. The offering also includes provisions for conversion into common stock from 2029 onwards, with early conversion possible under specific conditions.
Furthermore, Riot Platforms recently acquired 705 Bitcoin for $68.45 million. According to data from Arkham Intelligence, the company now holds a total of 12,000 Bitcoin, which is valued at approximately $1.2 billion. This makes Riot Platforms the second-largest Bitcoin holder among mining companies, with Marathon Digital leading the sector with over 40,000 Bitcoin, according to Bitbo data.
