Riot Platforms funds capital spending by selling Bitcoin holdings
Updated
Updated · Benzinga · May 3
Riot Platforms funds capital spending by selling Bitcoin holdings
11 articles · Updated · Benzinga · May 3
Vice-president Chung said on the first-quarter earnings call the miner financed data-centre CapEx through disciplined Bitcoin sales and issued no common equity during the quarter.
The company described its Bitcoin reserve as the most capital-efficient funding source for expanding its data-centre business, signalling a preference for using treasury assets over shareholder dilution.
The move featured in a week of crypto-finance developments that also included political scrutiny of crypto ties, bullish comments on Bitcoin as an inflation hedge and new prediction-market competition.
Can prediction markets thrive while US regulators intensify their crackdown on insider trading?
What allows a stablecoin with alleged ties to sanctioned groups to be listed on major exchanges?