Riot Platforms acquire $68m of Bitcoin after notes offer

Bitcoin infrastructure company Riot Platforms has acquired millions of dollars worth of Bitcoin in the past few hours. This action followed after the company announced a senior bond offering.

According to Arkham Intelligence data on December 11, Riot Platforms acquired 705 Bitcoins (BTC) or equal to $68.45 million. At the time of writing, this transaction is separated from 6 different wallets.

Among these wallets, the majority of transactions come from 5 unidentified wallets, which represent $68.26 million. Another Bitcoin was sent by the New York Digital Investment Group (NYDIG), which represents only a small number of transactions.

Known as the second largest Bitcoin mining global company, Riot holds 10,019 Bitcoins worth nearly $1 billion, just behind Mara Holdings in the lead with 40,435 Bitcoins, according to BitBo. data.

Riot, on X’s message on December 6, announced Bitcoin mining last month with over 495 BTC, or $48 million, or 16.5 BTC per day. This mining effort for a month is equivalent to 70% of the Bitcoin acquired a few hours ago.

It also shows that the number of Bitcoins mined has decreased from 505 BTC in October 2024.

Riot Platforms Offers $500 Million Senior Notes

A Bitcoin mining company based in North America announcement plans to offer $500 million of convertible senior notes through a private offering to institutional buyers. Investors will have $75 million in call options for the initial investment.

These notes will mature over the next 6 years, i.e. on January 15, 2030. Under certain conditions, the company can redeem all notes for cash after 3 years of issue.

“Riot intends to use the net proceeds from the offering to acquire additional bitcoins and for general corporate purposes,”

the company declared the official statement