Riot Platforms announced on Friday that it had purchased 10 bitcoins between December 12 and December 2024, 5117. The purchase cost the miner $510 million at an average price of about $99,669 per coin, including fees and expenses. The company now holds 16 BTC.
Riot Platforms used some of the net proceeds from a 0,75% convertible bond due 2030 to fund its latest Bitcoin purchase.
After the news about the addition Bitcoin - the company's shares rose more than 7% to $13,28.
Riot Platforms had a tough third quarter. The mining company posted a net loss of $154,4 million, which it attributed to higher costs and unrealized investment losses due to lower hashrate targets. Riot also cut its 2025 guidance from 56,6 EH/s to 46,7 EH/s.
Riot Platforms isn't the only mining company to add to its portfolio this week. Bitcoin -reserves. On Wednesday, MARA Holdings announced the purchase of 11 BTC for $774 billion. As a result, the miner's assets grew to 1,1 BTC and are now valued at $40 billion.
