RIOT Entirely Relying On Balance Sheet For CapEx Needs

During Riot’s first-quarter earnings call, Chung outlined the funding strategy for the data center business, emphasizing strong reliance on its existing balance sheet.

“During the quarter, we funded this CapEx through a disciplined sale of a portion of our Bitcoin holdings, the most capital-efficient source of funding currently available to us,” Chung said.

Chung added that Riot didn’t have to issue any common equity during the quarter.

RIOT is currently the seventh-largest corporate holder of Bitcoin, with a stash of 15,679 BTC, worth $1.209 billion at prevailing prices, down from 18,005 BTC reported in the previous… Read more on Benzinga