TechFlow news — Texas-based bitcoin mining giant Riot has raised nearly $560 million through stock issuance over the past four months, primarily to purchase large quantities of MicroBT's WhatsMiner equipment.
As of the end of 2023, the company’s total net proceeds reached approximately $748 million, with 60% generated in the most recent quarter. This aligns with broader trends of rising mining equities and shareholder dilution.
Riot has announced the acquisition of approximately $453 million worth of WhatsMiner machines, expected to be fully deployed by mid-2025. The company’s increased confidence in MicroBT indicates plans to purchase additional equipment, potentially requiring further capital.
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