Riot Platforms, a leading Bitcoin mining company, announced plans for a $500 million convertible senior notes offering, due in 2030. The notes will be used to purchase additional Bitcoin and support general corporate initiatives. The proposed notes will be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933.
Riot also plans to grant initial purchasers an option to acquire an additional $75 million in aggregate principal amount of notes, contingent on market conditions and other factors.
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