Bitcoin mining company Riot Platforms completes $594.4 million convertible senior notes issuance

Bitcoin mining company Riot Platforms announced the completion of the previously announced 0.75% convertible senior notes due in 2030. After deducting the discounts and commissions of the initial purchasers and the estimated issuance expenses payable by Riot, the net proceeds from the issuance of the 2030 bonds were approximately US$579.2 million. Riot said it has used most of the net proceeds from the issuance to increase its holdings of Bitcoin. Yesterday, Riot Platforms announced that it had increased its holdings of 667 Bitcoins, worth approximately US$67.5 million. As of now, Riot Platforms' Bitcoin holdings have reached 17,429 BTC, which is currently worth US$1.8 billion based on BTC's current market price of US$103,873.