Important points
Riot Platforms has raised $525 million to fund the purchase and operation of Bitcoin. Riot currently holds 12,000 Bitcoins worth approximately $1.2 billion.
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Bitcoin mining giant Riot Platforms has completed a $525 million senior note offering, according to an SEC filing.
The private placement, first announced earlier this week, is scheduled to mature in 2030 at an interest rate of 0.75% and is intended to fund additional Bitcoin acquisitions and general corporate purposes.
The offering has proceeds of approximately $511.5 million, net of expenses, and includes a provision for conversion into common stock starting in 2029, with early conversion possible under certain conditions.
The company recently acquired 705 Bitcoins for $68.45 million.
Riot currently holds 12,000 Bitcoins, worth about $1.2 billion, making it the second-largest Bitcoin holder among mining companies, according to data from Arkham Intelligence.
According to Bitbo data, Marathon Digital leads the sector with over 40,000 Bitcoins.
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