Riot has raised nearly $560 million in the past four months to fund the acquisition of Whatsminer

The Texas-based Bitcoin mining and hosting giant Riot has raised nearly $560 million through stock issuance in the past four months to fund its large-scale acquisition of MicroBT's WhatsMiners. In its annual report released this Friday, Riot disclosed that the company's net proceeds from stock issuance in 2023 totaled $7.477 billion, with 60% coming from the previous quarter. Additionally, an additional $115 million has been raised through market issuance since December 31st.