Riot’s Bitcoin acquisition details: Riot Platforms has purchased 667 BTC for 69 million USD. This brings their total to 17,429 BTC, valued at nearly 2 billion USD at current rates. The average price per Bitcoin was around 101,135 USD.
Stock performance after acquisition: Following the announcement, Riot’s stock surged by nearly 8%. This indicates strong investor confidence, likely influenced by Riot’s aggressive Bitcoin acquisition strategy, inspired by companies like MicroStrategy.
Impressive Bitcoin yield: Riot has reported a year-to-date Bitcoin yield of 37.2%. This performance highlights effective management of their cryptocurrency assets and reflects a growing trend of institutional interest in Bitcoin as a trusted asset class.
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