Riot buys additional Bitcoin... Holdings increase to 17,429 BTC

Bitcoin mining company Riot Platforms recently announced it will use funds secured through a convertible bond offering to hold Bitcoin.
On the 16th (local time), Riot announced that it had raised additional funds through the issuance of $594 million in 0.75% convertible bonds to raise 667 BTC at an average price of 1
The purchase brings Riot's total Bitcoin holdings to 17,429 BTC, which is about the current Bitcoin market price of 1
At $3,873 per share, the total is estimated at approximately $1.8 billion. Riot has already used part of the net proceeds from the convertible bond to purchase an additional 5,117 BTC between December 10th and December 12th.
Riot's shares have fallen 25% this year as miners have struggled to remain profitable since the bitcoin halving in April. But Wall Street Journal reports that the company has been trading at a valuation of $1.2 billion.
On December 12, Starboard Value announced it had bought a stake in Riot and was converting some of its bitcoin mining facilities into a hyperscale facility.
Riot shares have risen more than 20% in five consecutive days in recent days, and were up 7.4% to $13.95 in early trading on the 16th.
Through this additional Bitcoin purchase and overall mining production, Riot said it has recorded a Bitcoin return of 37.2% per share so far this year.
Ta.