2 weeks ago
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ARTICLE AD BOX
Bitcoin mining giant Riot Platforms Inc. has made another huge splash into BTC to increase its holdings. As announced, the company bought a total of 5,113 Bitcoin for approximately $510 million. This acquisition is reminiscent of ongoing trends of Bitcoin buyup by Wall Street firms.
Riot Platforms and Bitcoin Agenda
As reported earlier this week, the company announced it is raising $500 million via Convertible bond issue to buy more Bitcoin. In the purchase announcement, Riot Platforms said it used proceeds from the fundraising to buy 5,117 BTC at an average price of $99,669 per BTC, inclusive of fees and expenses.
With this latest purchase, the mining firm has increased its holdings to 16,728 BTC. These Bitcoin stash is currently valued at approximately $1.68 billion based on the current market price of BTC of $100,303.
This is a developing story, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
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