Riot Platforms Executive Vice President Jason Chung confirmed the company's strategy of funding capital expenditures through the sale of Bitcoin, citing an example of a $96 million acquisition of the Rockdale data center, which was financed by selling nearly 1,100 Bitcoin from the company's inventory. He also pointed out that data center development has brought in new "low-cost capital," which will be combined with the proceeds from Bitcoin sales on the balance sheet. Riot holds 18,005 Bitcoin valued at $1.2 billion and predicts that driven by Bitcoin mining, the company's full-year revenue will grow by 71% in 2025.
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Riot Platforms Executive Vice President Jason Chung confirmed the company's strategy of funding capital expenditures through the sale of Bitcoin, citing an example of a $96 million acquisition of the Rockdale data center, which was financed by selling nearly 1,100 Bitcoin from the company's inventory. He also pointed out that data center development has brought in new "low-cost capital," which will be combined with the proceeds from Bitcoin sales on the balance sheet. Riot holds 18,005 Bitcoin valued at $1.2 billion and predicts that driven by Bitcoin mining, the company's full-year revenue will grow by 71% in 2025.