Key takeaways
- Riot Platforms raised $525 million to fund Bitcoin purchases and operations.
- Riot currently has 12,000 Bitcoin, valued at around $1.2 billion.
Riot Platforms, a leading Bitcoin mining company, has completed its $525 million senior note offering, according to a archiving with the SEC.
The private offering, originally announced earlier this week, will mature in 2030 with an interest rate of 0.75% and aims to fund additional Bitcoin acquisitions and general corporate purposes.
The offering, which provided approximately $511.5 million after expenses, includes provisions for conversion into common stock beginning in 2029, with earlier conversion possible under specific conditions.
The company recently acquired 705 Bitcoin for $68.45 million.
Data from Arkham Intelligence shows Riot now has 12,000 Bitcoin, valued at around $1.2 billion, making it the second largest Bitcoin holder among mining companies.
Marathon Digital leads the sector with over 40,000 Bitcoin, according to Bitbo date.
