Riot Platform Receives 667 BTC, Increases Holdings To 17,429 Tokens
Riot's platform recently made a BTC buyback, raising $594 million in additional revenue for the company, while a 0.75% coupon convertible bond issue saw the company earn 667 BTC at an average of $101,135. BTC
Riot received a 37.2% BTC yield
The December 12-13 purchase boosted Riot's total bitcoin holdings to 17,429 tokens, worth $1.8 billion at the current BTC market value of $103,873. Riot also stated that through this acquisition and mining production YTD it generated 36.7% QTD and 37.2% YTD BTC production.
Just recently, the company received 5,117 BTC at an average price of $99,669 per BTC including fees and expenses. Riot's acquisition underscores the continued interest and investment in Bitcoin by major industry players, despite market volatility. Riot's decision to acquire Bitcoin shows its commitment to the future growth of Bitcoin.
Riot's purchase coincides with MicroStrategy's BTC purchase.
Riot's latest Bitcoin purchase coincides with MicroStrategy's recent Bitcoin purchase, with 15,350 BTC for an average of $100,386 per Bitcoin for around $1.5 billion. This is MSTR's sixth acquisition in six weeks. It holds a total of 423,650 bitcoins from the recently purchased MicroStrategy. Notably, MicroStrategy will soon join the Nasdaq-100, putting it alongside some of the world's leading companies. Also, MicroStrategy is the first Bitcoin treasury company to enter the Nasdaq-100.
Notably, Bitcoin rose above $106k earlier in Monday's trading session, hitting new highs and now trading at $104,841, up more than 1% over the past 24 hours.
