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Hut 8 has bolstered its Bitcoin holdings to over $1 billion following a $100 million acquisition of approximately 990 BTC, bringing its total reserves to over 10,096 BTC. This strategic move positions Hut 8 among the top 10 corporate Bitcoin holders globally, as the company aims to enhance its financial position and shareholder returns through effective treasury management.
Riot Platforms has significantly expanded its Bitcoin holdings by purchasing 5,117 BTC for approximately $510 million, averaging $99,669 per coin, between December 10 and 12, 2024. This acquisition raises its total Bitcoin reserves to 16,728 BTC, reflecting the company's confidence in the cryptocurrency market despite concerns over the purchase price relative to current market values. Additionally, Riot plans to issue $500 million in convertible notes by 2030 to further enhance its market position and Bitcoin reserves.
CleanSpark plans to raise $550 million through a private convertible note offering, set to close on December 17, with proceeds aimed at repaying debt, capital expenditures, and general corporate purposes. The notes, maturing in 2030, will not pay regular interest and can be converted into cash or stock. Unlike competitors, CleanSpark has no plans to increase its Bitcoin holdings, currently holding 9,297 BTC as of November 30.
Riot Platforms has acquired 5,113 BTC for $510 million, increasing its total Bitcoin holdings to 16,728 BTC, valued at approximately $1.68 billion. The purchase was funded through a recent $525 million convertible bond issuance, reflecting a strategy similar to MicroStrategy's. Additionally, Riot is exploring the integration of AI capabilities into its operations, potentially stabilizing revenue amid crypto market volatility.
Riot Platforms has acquired 5,117 Bitcoin for $510 million after raising $525 million through a private offering of convertible notes. This purchase increases its total holdings to 16,728 BTC, valued at approximately $1.69 billion, as the company follows a strategy similar to MicroStrategy's Bitcoin treasury reserve approach. Other miners, like Marathon Digital, are also adopting this strategy to bolster their balance sheets.
Riot Platforms has acquired approximately $510 million in Bitcoin, raising its total holdings to nearly $1.7 billion. This move aligns with activist investor Starboard Value's significant stake in the company, which has suggested repurposing mining capacity for AI services. Analysts at JPMorgan have also increased price targets for Bitcoin miners, recognizing the value of their BTC holdings and assets.
Activist investor Starboard Value has acquired a significant stake in Bitcoin miner Riot Platforms, prompting a rise in its stock price. Starboard is advocating for Riot to shift some of its mining capacity towards hyperscalers, capitalizing on the growing demand from the AI sector. Riot has expressed its commitment to engaging with Starboard to enhance shareholder value.
Riot Platforms plans to issue $500 million in convertible notes to enhance its Bitcoin reserves, which grew to 11,425 BTC by November 30. Despite a 5% increase in holdings and mining 495 BTC in November, the announcement led to a drop in shares, reflecting investor concerns about the new debt's impact on the company's finances.
Riot Platforms is raising up to $500 million through a private senior convertible notes offering to fund additional Bitcoin purchases and corporate needs, potentially acquiring about 5,877 BTC. Meanwhile, MicroStrategy has purchased $2.1 billion worth of Bitcoin, increasing its total holdings to 423,650 BTC. Riot also reached a settlement in its takeover bid for Bitfarms, while its stock has seen a significant rise over the past three months despite a recent dip.
Riot Platforms plans to raise $500 million through a private bond issue to acquire more Bitcoin as prices surge near all-time highs. The offering will include senior convertible notes, with funds aimed at Bitcoin purchases and general corporate purposes. Riot currently holds 10,427 BTC and has seen significant activity in the market, with other miners also raising substantial funds recently.
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