{"id":19379,"date":"2024-12-10T13:37:01","date_gmt":"2024-12-10T11:37:01","guid":{"rendered":"https:\/\/forklog.com\/en\/riot-platforms-to-raise-600-million-for-bitcoin-acquisition\/"},"modified":"2024-12-10T13:37:01","modified_gmt":"2024-12-10T11:37:01","slug":"riot-platforms-to-raise-600-million-for-bitcoin-acquisition","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/riot-platforms-to-raise-600-million-for-bitcoin-acquisition\/","title":{"rendered":"Riot Platforms to Raise $600 Million for Bitcoin Acquisition"},"content":{"rendered":"<p>The mining firm Riot Platforms plans to issue $500 million in convertible senior notes, with an additional option for initial buyers to purchase $75 million more.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Riot Announces Proposed Private Offering of $500 Million of Convertible Senior Notes. \u200b<\/p>\n<p>Net proceeds from this offering to be used primarily to acquire bitcoin and for general\u200b corporate purposes. \u200b<\/p>\n<p>Link to press release: <a href=\"https:\/\/t.co\/z7xQaB9eC4\">https:\/\/t.co\/z7xQaB9eC4<\/a>.<\/p>\n<p>\u2014 Riot Platforms, Inc. (@RiotPlatforms) <a href=\"https:\/\/twitter.com\/RiotPlatforms\/status\/1866091014466797899?ref_src=twsrc%5Etfw\">December 9, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The notes are set to mature on January 15, 2020. The initial conversion rate and other terms of the offering will be determined at the time of pricing based on market conditions.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">December 10, 2024 | 14:57<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Riot has increased the principal amount of the offering to $525 million and set the interest rate at 0.75% per annum. The company expects net proceeds, after deducting offering expenses, to be approximately $584.6 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Riot Announces Pricing of Offering of 0.75% Convertible Senior Notes.<\/p>\n<p>Link to press release: <a href=\"https:\/\/t.co\/hblEp6vdEB\">https:\/\/t.co\/hblEp6vdEB<\/a>.<\/p>\n<p>\u2014 Riot Platforms, Inc. (@RiotPlatforms) <a href=\"https:\/\/twitter.com\/RiotPlatforms\/status\/1866360897746481637?ref_src=twsrc%5Etfw\">December 10, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>The funds raised by Riot will be directed towards acquiring additional bitcoins and for general corporate purposes.<\/p>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, the company&#8217;s cryptocurrency reserves amount to 11,425 BTC, valued at approximately $1.12 billion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"94\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-1024x94.jpg\" alt=\"Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome\" class=\"wp-image-247266\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-1024x94.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-300x28.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome-768x70.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Treasuries-144-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: BitcoinTreasuries.<\/figcaption><\/figure>\n<p>Their holdings are more than three times less than those of their competitor, MARA Holdings. The largest American public miner has already used funds from a $1 billion convertible debt offering to purchase digital gold.<\/p>\n<p>In November, the company acquired 6,474 BTC for approximately $618 million, and in December, an additional 1,423 BTC as the cryptocurrency fell to $90,500.<\/p>\n<p>MicroStrategy, which holds the largest corporate bitcoin reserves, increased its holdings to 423,650 BTC (approximately $41.4 billion) following the purchase of 21,550 BTC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining firm Riot Platforms plans to issue $500 million in convertible senior notes, with an additional option for initial buyers to purchase $75 million more. Riot Announces Proposed Private Offering of $500 Million of Convertible Senior Notes. \u200b Net proceeds from this offering to be used primarily to acquire bitcoin and for general\u200b corporate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,52,1186],"class_list":["post-19379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-investments","tag-riot-platforms"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19379"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19378"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}