crypto.news
2024-12-16 15:38:09

Riot upsized Bitcoin holdings by $69m

Major Bitcoin miner Riot Platforms added $69 million worth of the world’s leading cryptocurrency to its holdings. According to Securities and Exchange Commission filings , Riot Platforms bought 667 Bitcoin ( BTC ), increasing its total crypto holdings to 17,429 BTC. Riot acquired this tranche at an average price of $101,135 per coin, bringing the total value of its Bitcoin balance to nearly $2 billion at the December 16 peak price of $106,000. The company began mining Bitcoin in 2018 at its Oklahoma facility after shifting its corporate focus. Inspired by MicroStrategy Chairman Michael Saylor’s “sell shares, buy BTC” strategy, Riot expanded its approach to include Bitcoin purchases and share buybacks, further growing its crypto reserves. You might also like: MicroStrategy registers new $1.5b Bitcoin buy By combining mining operations with strategic market purchases, Riot has generated a notable BTC yield. This metric measures the difference between BTC holdings and share dilution. Since the beginning of the fourth quarter, Riot has achieved a 36.7% BTC yield, with a year-to-date yield of 37.2%. Despite ongoing debates surrounding the Saylor-instigated practice, BTC miners like Riot and other corporations have increasingly offered share rights to raise capital for Bitcoin purchases, albeit less aggressively than MicroStrategy. Riot recently closed a $594 million convertible bond sale, channeling the proceeds to finance more BTC buys. Marathon Digital, another BTC miner, executed a similar plan – selling senior notes for cash to acquire BTC. Read more: Ethena officially launches USDtb, stablecoin backed by BlackRock

获取加密通讯
阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约