The post Riot Platforms Expands Bitcoin Holdings Substantially appeared on BitcoinEthereumNews.com.

Riot Platforms, a publicly listed company focused on Bitcoin mining, has significantly bolstered its corporate treasury with a substantial Bitcoin acquisition. The firm revealed the purchase of 5,117 BTC at an average price of $99,669, financed through proceeds from a recent bond issuance. What Are the Financial Details of the Acquisition? Riot Platforms secured $525 million through a convertible bond offering with a 0.75% coupon, utilizing the funds to procure the 5,117 BTC. This strategic move raised the company’s total Bitcoin holdings to 16,728 BTC, valued at approximately $1.68 billion based on current market conditions. Which Other Companies Are Following Suit? Another prominent player, MicroStrategy, also participated in Bitcoin acquisitions this month, increasing its total to 423,650 BTC as of December 8. Additionally, Semler Scientific has adopted similar strategies, acquiring 303 BTC for around $29.3 million, demonstrating a growing trend among firms to invest in Bitcoin. Key takeaways from these corporate actions include: Riot Platforms has now established a robust Bitcoin treasury strategy. MicroStrategy leads with the largest corporate Bitcoin reserves globally. Companies like Semler Scientific are seeing significant returns on their Bitcoin investments. The trend indicates a broader institutional interest in digital assets. The strategy employed by Riot Platforms and other firms highlights a notable shift towards integrating Bitcoin into corporate financial frameworks. This increasing acceptance is expected to enhance Bitcoin’s status in the financial markets, thereby opening new avenues for corporate stakeholders. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/riot-platforms-expands-bitcoin-holdings-substantially

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Filed under: News - @ December 15, 2024 10:23 pm