On December 13, Bitcoin mining company Riot Platforms, Inc. acquired 5,117 Bitcoins at an average price of $99,669 per Bitcoin, including fees and expenses. This acquisition brings Riot’s total Bitcoin holdings to 16,728, valued at approximately $1.68 billion based on the current BTC market price of $100,303.
Riot used the net proceeds from its recent $525 million, 0.75% coupon convertible bond issue to purchase the Bitcoins. The company’s Bitcoin acquisition strategy demonstrates its confidence in the long-term value of Bitcoin and its commitment to being a leader in the Bitcoin mining industry.
Source
<p>The post Riot Platforms, Bitcoin Mining Giant, Acquires $525 Million Convertible Debt; Holdings Rise to 16,728 BTC at $1.68B first appeared on CoinBuzzFeed.</p>
