"The facility replaces a prior at-the-market program established in August 2024, which Riot terminated effective Tuesday. Under the new agreement, Riot retains discretion over the timing and volume of any share sales. The company said proceeds will be used to fund capital expenditures, potential strategic acquisitions, investments in existing and future data centers and bitcoin mining projects, as well as general corporate purposes."
"The company said it produced 428 bitcoins in November, a 14% decline from the same month a year earlier. The company attributed the year-on-year drop to higher network difficulty and planned curtailments tied to power strategy. Total bitcoin holdings stood at 19,368 at the end of November, up 70% from a year earlier, but only four bitcoins higher than in October."
Riot Platforms entered a definitive sales agreement to issue and sell up to $500 million of common stock through the Nasdaq Capital Market. The new facility replaces an August 2024 at-the-market program and gives Riot discretion over timing and volume of share sales. Proceeds will fund capital expenditures, potential acquisitions, investments in current and future data centers and bitcoin mining projects, and general corporate purposes, with possible funding for stock buybacks and working capital. Riot produced 428 bitcoins in November, down 14% year-over-year due to higher network difficulty and planned curtailments, and sold 383 bitcoins for $37 million in net proceeds.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]