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Riot Platform Expands Bitcoin Portfolio to $1.68 Billion: The Big Strategy of the BTC Mining "Tycoon"
Record Bitcoin Purchase Deal
The leading Bitcoin mining company #RiotPlatform has just announced that it spent $510 million to acquire an additional 5,117 Bitcoin, bringing the total number of $BTC held to 16,728 BTC (worth approximately $1.68 billion).
This transaction was executed at an average price of $99,669/BTC, with funding coming from a $525 million senior convertible bond issuance on December 9.
Riot Platform: Among the Top 3 "Big Players" Holding Bitcoin
The leading Bitcoin mining company #RiotPlatform has just announced that it spent $510 million to acquire an additional 5,117 Bitcoin, bringing the total number of $BTC held to 16,728 BTC (worth approximately $1.68 billion).
This transaction was executed at an average price of $99,669/BTC, with funding coming from a $525 million senior convertible bond issuance on December 9.
Riot Platform: Among the Top 3 "Big Players" Holding Bitcoin
"💰 Bitcoin Miner Riot Platforms Buys $500 Million Worth of BTC 🚀"
Bitcoin Miner Riot Platforms Purchases $500 Million Worth Of BTC — Details
$BTC
Bitcoin mining company Riot Platforms has increased its BTC holdings with the addition of over 5,000 coins in the past few days. This significant purchase came on the back of reports that the miner was under pressure from activist investor Starboard Value.
How Much BTC Does Riot Platforms Currently Own?
On Friday, December 13, Riot Platforms announced that it had purchased approximately $510 million worth of BTC between December 10 and December 12. According to the post on X, the cost of this latest purchase was pegged at around $99,669 per BTC, including fees and other charges.
The most recent acquisition was executed with the net proceeds from the offering of Riots’ 0.75% convertible bond issue due 2030 and its cash reserves. And it brings the Bitcoin miner’s holdings to 16,728 BTC, valued at approximately $1.68 billion.
Unsurprisingly, the price of Riot’s stock (with the ticker RIOT) rose by more than 7% to around $13.28. As observed with MicroStrategy’s stock (MSTR), institutions that continually expand their Bitcoin holdings tend to see the reflection in their stock prices, especially as the BTC price continues to rise.
As of this writing, the price of Bitcoin stands at around $101,257, reflecting a 1% increase in the past 24 hours. According to CoinGecko data, the premier cryptocurrency is down by about 2% in the last week.
Why Riot Bought Bitcoin
As earlier inferred, this latest BTC acquisition by Riot Platforms came off the back of news that activist investor Starboard Value has bought a stake in the firm. According to the Wall Street Journal, Starboard encouraged the Bitcoin miner to reinvent some of its Bitcoin mining capacity to service artificial intelligence models. It appears that purchasing the world’s largest cryptocurrency is one of the best ways for Bitcoin miners to satisfy their investors.
#Bitcoin #Riotplatform #crytomining
#cryptonews
$BTC
Bitcoin mining company Riot Platforms has increased its BTC holdings with the addition of over 5,000 coins in the past few days. This significant purchase came on the back of reports that the miner was under pressure from activist investor Starboard Value.
How Much BTC Does Riot Platforms Currently Own?
On Friday, December 13, Riot Platforms announced that it had purchased approximately $510 million worth of BTC between December 10 and December 12. According to the post on X, the cost of this latest purchase was pegged at around $99,669 per BTC, including fees and other charges.
The most recent acquisition was executed with the net proceeds from the offering of Riots’ 0.75% convertible bond issue due 2030 and its cash reserves. And it brings the Bitcoin miner’s holdings to 16,728 BTC, valued at approximately $1.68 billion.
Unsurprisingly, the price of Riot’s stock (with the ticker RIOT) rose by more than 7% to around $13.28. As observed with MicroStrategy’s stock (MSTR), institutions that continually expand their Bitcoin holdings tend to see the reflection in their stock prices, especially as the BTC price continues to rise.
As of this writing, the price of Bitcoin stands at around $101,257, reflecting a 1% increase in the past 24 hours. According to CoinGecko data, the premier cryptocurrency is down by about 2% in the last week.
Why Riot Bought Bitcoin
As earlier inferred, this latest BTC acquisition by Riot Platforms came off the back of news that activist investor Starboard Value has bought a stake in the firm. According to the Wall Street Journal, Starboard encouraged the Bitcoin miner to reinvent some of its Bitcoin mining capacity to service artificial intelligence models. It appears that purchasing the world’s largest cryptocurrency is one of the best ways for Bitcoin miners to satisfy their investors.
#Bitcoin #Riotplatform #crytomining
#cryptonews
🚀 Riot Platform Accumulates Bitcoin, No Sales in February 🔥
#RiotPlatform has mined 470 BTC in February but did not sell any, continuing the long-term holding strategy. The company currently owns a total of 18.692 $BTC , affirming strong confidence in Bitcoin and the growth potential of the market.
This move shows the optimism of #RIOT towards the future of cryptocurrency, especially in the context of the upcoming Bitcoin halving! ⛏️🚀
#RiotPlatform has mined 470 BTC in February but did not sell any, continuing the long-term holding strategy. The company currently owns a total of 18.692 $BTC , affirming strong confidence in Bitcoin and the growth potential of the market.
This move shows the optimism of #RIOT towards the future of cryptocurrency, especially in the context of the upcoming Bitcoin halving! ⛏️🚀
🚀 Riot Platforms’ Power Move: $1B Deal & AMD Partnership!
Mining giant Riot Platforms is leveling up by bridging BTC mining with AI infrastructure. Here are the key highlights of the massive deal:
🔹 Land for Bitcoin: The company sold 1080 BTC to acquire a strategic land plot with ready-to-use data center infrastructure. Riot is converting crypto assets into hard power for scaling.
🔹 AMD Partnership: Riot has teamed up with tech titan AMD. The plan involves leasing and launching a data center designed to handle high-performance computing (HPC) needs.
🔹 The $1 Billion Scale: The total contract value is projected to reach a staggering $1 billion.
Riot is sending a clear message: they are no longer just miners. This is a full-scale transformation into a major player in AI and computing infrastructure.
📈 Do you think this "mining to AI" pivot will become the main trend for miners post-halving?
#RiotPlatform #AMD #Bitcoin #Mining #AI
Mining giant Riot Platforms is leveling up by bridging BTC mining with AI infrastructure. Here are the key highlights of the massive deal:
🔹 Land for Bitcoin: The company sold 1080 BTC to acquire a strategic land plot with ready-to-use data center infrastructure. Riot is converting crypto assets into hard power for scaling.
🔹 AMD Partnership: Riot has teamed up with tech titan AMD. The plan involves leasing and launching a data center designed to handle high-performance computing (HPC) needs.
🔹 The $1 Billion Scale: The total contract value is projected to reach a staggering $1 billion.
Riot is sending a clear message: they are no longer just miners. This is a full-scale transformation into a major player in AI and computing infrastructure.
📈 Do you think this "mining to AI" pivot will become the main trend for miners post-halving?
#RiotPlatform #AMD #Bitcoin #Mining #AI
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