Riot Platforms, an American company dedicated to Bitcoin Mining, now has a total treasure of more than 16,700 bitcoin (BTC), as reported this Friday in an X post.
According to the data of the company, bought 5,117 bitcoin at a price of $99,669, for an investment of just over $510 million. With this acquisition, Riot now has a total of 16,728 bitcoin in custodya reserve valued at over $1.68 billion at the current BTC price.
According to Jason Les, the CEO of Riot Platforms, the total BTC treasury figure includes monthly bitcoin production through December 11. It must be taken into account that this company is one of the largest mining entities in the entire industrywith a total hashrate of 28 EH/s distributed across different farms, which allows them produce on average 1,100 BTC each quarter.
According to the company, the purchase of the 5,117 BTC was financed with the net proceeds from the issuance of debt bonds. for 525 million dollars, convertible at 0.75%, launched on December 10, expiring in 2030.
The company made the announcement via X. Source: X.
This expansion of Riot’s bitcoin reserve occurs at a time when the trend of large mining companies towards the accumulation of BTC is on the rise.
For example, Hut 8, another mining company, recently reported that it would pursue the sale of common stock to raise $500 million, with the goal of buy BTC as a strategic reservein addition to investing in infrastructure.
Another example is Marathon Digital Holdings, or MARA Holdings, which is currently the bitcoin mining company with the largest amount of BTC in custody. with more than 40,435 coinsaccording to their own data.
On December 10, that company advertisement the acquisition of 11,774 bitcoin, investing just over USD 1,000 million to do so. Additionally, Marathon reported that will go into debt for USD 700 million to buy more bitcoin, launching debt bonds that mature in 2026, as reported by CriptoNoticias.
Riot’s decision to increase its Bitcoin reserve reflects a long-term strategy in which the company views the digital asset as a valuable investment. This move not only strengthens Riot’s position in the Bitcoin mining market, but also underlines the company’s confidence in the future value of the coin.
Likewise, the accumulation of BTC by mining companies and others is a indicator of the growing acceptance and valuation of BTCnot just as another currency, but as a reserve asset. This is also a trend that is being seen in companies in other areas, such as technology and the health sector.
Riot Platforms’ announcement follows growing institutional interest in bitcoin, fueled by the rise of BTC spot price exchange-traded funds (ETFs), as well as the fever of bitcoin strategic reserves, whose projects are proliferating among companies and entire nations.
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