How Many Bitcoins Does Riot Have in Its Bitcoin Holdings

Riot Games, the developer of League of Legends, has a significant amount of Bitcoin in its treasury.

The company has been open about its Bitcoin holdings, with CEO Nicolo Laurent stating that Riot Games has a "large" amount of Bitcoin.

In a 2021 interview, Laurent mentioned that Riot Games had acquired a significant amount of Bitcoin in 2021, but did not disclose the exact amount.

The company's Bitcoin holdings have likely increased since then, but the exact number remains unknown.

Consider reading: At Which Bitcoin Amount Do I Need Offline Wallet

Riot Platforms, Inc. sits on 16,728 Bitcoins as of Dec. 13, 2024.

This is a significant increase from its previous holdings. Riot Platforms has more than doubled its Bitcoin holdings throughout 2024, especially since April.

The company's latest acquisition was the purchase of 5,117 BTC, made between December 10 and December 12. This transaction, valued at approximately $510 million at an average price of $99.669 per BTC, has brought Riot Platforms' total Bitcoin holdings to 16,728 BTC.

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Riot Platforms holds 11,425 BTC, making it the third-largest publicly traded corporate Bitcoin holder according to Bitcoin Treasuries data.

The company's Bitcoin holdings are valued at over $1.720 billion at the time of writing.

Riot Platforms has managed to accumulate over 8,238 BTC since April, reflecting a bold, long-term strategy.

The company's decision to increase its Bitcoin reserves is a clear manifestation of its long-term strategy, betting on the future of Bitcoin.

Riot Platforms produced 322 Bitcoin in August 2024 and exceeded 10,000 Bitcoin held.

For another approach, see: Btc Mining Pool

Riot Platforms, Inc. (NASDAQ: RIOT) has accumulated a significant amount of Bitcoin, currently holding 16,728 Bitcoins as of Dec. 13, 2024.

The company has been actively increasing its Bitcoin reserves, surpassing 10,000 BTC in 2024. This milestone was achieved despite a drop in the extraction of Bitcoin after the halving in April.

Riot produced 322 Bitcoin in August 2024, a reduction from the 370 BTC mined in July. However, this decrease is notable considering the halving of the April reward from 6.25 to 3.125.

A fresh viewpoint: When Is the Next Bitcoin Halving Event

The company plans to raise $500 million through a convertible senior notes offering to fund Bitcoin acquisitions and other corporate needs. This move mirrors similar fundraising strategies by peers like Marathon Digital.

Riot's Bitcoin reserves have grown significantly, reaching 11,425 BTC as of the latest data available. This makes it the third-largest publicly traded corporate Bitcoin holder.

The company's ability to optimize its energy costs and make more power available to the grid during peak periods has contributed to its success in the Bitcoin mining space.

Riot Platforms' recent acquisition significantly increases its treasury and sets a precedent for how mining companies can navigate an uncertain economic environment.

Riot Platforms plans to raise $500 million through a convertible senior notes offering to fund Bitcoin acquisitions and other corporate needs. This fundraising strategy mirrors moves by Riot's peers, with Marathon Digital recently announcing plans to raise $700 million through a similar private offering.

For more insights, see: Million Bitcoins

The company intends to use the proceeds to acquire additional Bitcoin for general corporate purposes, aiming to bolster its Bitcoin reserves and fund corporate initiatives. This is a clear manifestation of Riot Platforms' long-term strategy, betting on the future of Bitcoin.

Riot holds 11,425 BTC, making it the third-largest publicly traded corporate Bitcoin holder. This is a significant increase from the 7,300 BTC it held at the end of August last year.

Riot's ability to mine more BTC than in August of last year, despite a drop in extraction, is surprising. In July 2024, it mined 370 BTC, while in August it stopped at 322.

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