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.