What’s Happening With Bitcoin Mining Stock Riot Platforms Today? – Riot Platforms (NASDAQ:RIOT)

Riot Platforms Inc RIOT shares are trading higher. The company announced on Monday the closing of a convertible senior bond offering.

What happened: Riot said it completed its previously announced offering of 0.75% convertible senior notes due 2030. The company sold $594.4 million in aggregate principal amount of the notes in a private placement to institutional buyers.

Riot said it received net proceeds of approximately $579.2 million from the offering. The company announced Monday that it has already used most of the net proceeds to make additional acquisitions Bitcoin BTC/USD.

In a regulatory filing, Riot said it acquired approximately 5,117 Bitcoins for approximately $510 million between December 10th and December 12th. Per As of December 16, Riot had a total of 16,728 Bitcoin.

The news comes after the company confirmed last week that it has held discussions with activist Starboard Value, which recently took a stake in the company.

“We are committed to creating value for all shareholders and look forward to a constructive dialogue with Starboard on ways to achieve this shared goal,” the company said.

Several crypto-related stocks are moving higher on Monday after Bitcoin climbed to new record highs over the weekend. Reports from Sunday suggested the newly elected president Donald Trump could issue an executive order to create a strategic bitcoin reserve.

Check this out: Trump is reportedly considering an executive order to establish strategic bitcoin reserve

RIOT Price Action: Riot Platform shares rose 6.29% to $13.81 at the time of the announcement on Monday, according to Benzinga Pro.

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