PANews reported on December 12 that according to Cryptoslate, the Bitcoin mining company Riot Platforms submitted documents to the U.S. Securities and Exchange Commission (SEC) on December 11, showing that the company has successfully completed the issuance of $525 million in priority notes. This batch of notes, which will mature in 2030, has an interest rate of 0.75% and is privately issued to institutional investors. The terms of the notes stipulate that starting in 2029, investors have the right to convert them into Riot's common stock. At the same time, under certain conditions listed in the terms of the issuance, investors may also convert them in advance. The proceeds will be mainly used to promote the company's Bitcoin acquisition strategy and further expand its holdings.
Prior to this strategic move, Riot had already spent $68.45 million to purchase 705 bitcoins. With this latest investment, the company's total bitcoin holdings now reach 12,000, worth approximately $1.2 billion at current market prices. This makes Riot the second largest bitcoin holder among listed mining companies, second only to Marathon Digital, which currently holds more than 40,000 bitcoins.
