Bitcoin Mining Giant Riot Platforms Bolsters Holdings with $510 Million Purchase

Bitget App

Trade smarter

Bitget

News

Cryptodnes2024/12/14 08:00

By:Cryptodnes

Riot Platforms Inc., a leading force in Bitcoin mining, has made a substantial move to bolster its cryptocurrency holdings.

The company recently announced the purchase of 5,117 Bitcoin , spending approximately $510 million.

This latest acquisition reflects the ongoing trend of institutional investors, particularly Wall Street firms, increasing their Bitcoin positions.

Earlier this week, Riot revealed plans to raise $500 million through a convertible bond offering, aimed at funding additional Bitcoin purchases.

U.S. Bitcoin Investor Sentenced for $4M Tax Evasion

The latest acquisition, made using the funds from this bond issue, brought the company’s total Bitcoin holdings to 16,728 BTC.

With the current market price of Bitcoin sitting at $100,303, Riot’s Bitcoin stash is now valued at an impressive $1.68 billion.

This strategic investment further solidifies Riot Platforms’ position as a major player in the cryptocurrency space.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14