Riot Platforms acquire $68m of Bitcoin after senior notes offer

Bitcoin infrastructure firm Riot Platforms has acquired millions of dollars of Bitcoin in the past few hours. This action was followed after the company announced a senior notes offer. According to Arkham Intelligence data on Dec. 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 those wallets, the majority of the transactions are coming from 5 unidentified wallets, which account for $68,26 million. Another Bitcoin was sent by the New York Digital Investment Group (NYDIG), which only accounts for a small number of transactions. Riot acquired Bitcoin on-chain data on Dec. 11 | Source: Arkham Intelligence Known as the second-largest Bitcoin mining company in the world, Riot holds 10,019 Bitcoin worth almost $1 billion, just behind Mara Holdings at the top with 40,435 Bitcoin, according to BitBo data . Riot, on X’s post on Dec. 06, announced mined Bitcoin last month with over 495 BTC, equal to $48 million, or 16.5 BTC per day. This mining effort for a month is equivalent to 70% of the acquired Bitcoin a few hours ago. It also shows that the number of mined Bitcoins decreased from 505 BTC in October 2024. Read more: Riot Platforms mined 505 BTC in October, a 23% increase Riot Platforms offer $500 million senior notes A bitcoin mining company based in North America announced plans to offer $500 million of convertible senior notes through a private offering to institutional buyers. Investors will have $75 million in purchase options for the initial investment. These notes will mature in the next 6 years, on Jan. 15, 2030. Under certain conditions, the company can redeem all the notes for cash after 3 years of issuance. “Riot intends to use the net proceeds from the offering to acquire additional bitcoin and for general corporate purposes,” the company stated on official statement Read more: Riot pads Bitcoin trove with $500m note sale

Source: crypto.news