Riot Platforms completes $525M offering to buy Bitcoin

Riot Platforms, a leading Bitcoin mining company, has completed its $525 million senior note offering, according to a filing with the SEC.

The private offering, initially announced earlier this week, will mature in 2030 with a 0.75% interest rate and aims to fund additional Bitcoin acquisitions and general corporate purposes.

The offering, which netted approximately $511.5 million after expenses, includes provisions for conversion into common stock starting in 2029, with earlier conversion possible under specific conditions.

The company recently acquired 705 Bitcoin for $68.45 million.

Data from Arkham Intelligence shows Riot now holds 12,000 Bitcoin, valued at approximately $1.2 billion, making it the second-largest Bitcoin holder among mining companies.

Marathon Digital leads the sector with over 40,000 Bitcoin, according to Bitbo data.