Riot Platforms, a leading Bitcoin mining and digital infrastructure company, has announced plans to raise $500 million through a private offering of convertible senior notes due in 2030. The proceeds from this offering will be used to purchase more Bitcoin.

The offering targets qualified institutional buyers and also includes an option for purchasers to buy an additional $75 million in notes.

Convertible Notes in Bitcoin Acquisitions

According to the official statement, Riot plans to use the proceeds to acquire additional Bitcoin and fund general corporate activities, reflecting BTC’s growing value as digital gold. The company took to X to make their announcement:

“Riot Announces Proposed Private Offering of $500 Million of Convertible Senior Notes. ​ Net proceeds from this offering to be used primarily to acquire bitcoin and for general​ corporate purposes,” they posted.

This move mirrors similar strategies used by other public firms, where convertible notes have been leveraged to fund Bitcoin purchases. The offering supports both Riot’s financial flexibility and confidence in Bitcoin as a long-term asset.

The use of convertible senior notes to acquire Bitcoin has been an ongoing trend among publicly listed companies. MicroStrategy, one of the largest Bitcoin holders, recently issued billions of dollars in convertible notes to fund its extensive Bitcoin purchases.

As of December 9, The company holds 423,650 bitcoins, whi

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Author: Farah Ibrahim