Publicly traded Bitcoin mining firm Riot Platforms has bought more orange coins after raising $525 million via a private senior convertible notes offering.

The company announced earlier this week that it would raise money from private investors as part of a strategy to buy Bitcoin and pay for other general corporate purposes. 

In its latest announcement Friday, the Castle Rock, Colorado-based Riot said it had snapped up 5,117 Bitcoin (BTC) at an average price of $99,669 per coin, including fees, ultimately spending $510 million in the process.

The firm now holds 16,728 BTC, currently valued at approximately $1.69 billion, it added. Bitcoin is trading for $101

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Author: Mathew Di Salvo