Riot Platforms, a publicly traded Bitcoin mining company, plans to raise $500 million through a private offering of senior convertible notes. The money will be used to fund further Bitcoin purchases (BTC) and for other corporate purposes.
This offering will be available for everyone “persons reasonably believed to be qualified institutional buyers,” It is anticipated that the $500 million core offering can be supplemented by up to $75 million worth of additional notes.
Riot’s senior unsecured obligations, Riot notes, are due to mature January 15, 2030, unless they are converted, purchased, or redeemed before then. The official offer will reveal the first conversion rate, as well as other terms.
Riot Platforms, if it is successful in raising the $575 million needed to buy 5,877 Bitcoins today at current Bitcoin prices, could increase its Bitcoin holdings by approximately 5.877 Bitcoins.
Bitcoin mining began on November 30. Company held 11 425 BitcoinThe value of the company is more than $1 billion. Since September 30, the number has increased by almost 1,000 BTC. Unaudited 10-Qs are filed. SEC
Riot Platforms now has the largest Bitcoin stash among all publicly listed companies. Only behind Microsoft and Google. MicroStrategy The following are some examples of how to get started: Marathon DigitalBoth of them continue to buy Bitcoin regularly.
Riot Platforms (RIOT), as I write this, is currently down 9% at $11.76, despite a drop in Bitcoin’s price. BTC has fallen about 2% today. Even with today’s drop, Riot Platforms (RIOT) is still up 73% over the past three months.
Bitcoin Mining in Kentucky and Texas is carried out by the company. The company recently settled its lawsuit over the attempted takeover by Bitfarms of another Bitcoin mining operation.. It was produced More than 16 BTC An overview of its November mining activities
Andrew Hayward edited the book