Riot Announces Closing of $594.4 Million Convertible Senior Notes

CASTLE ROCK, Colo., December 16, 2024 — Riot Platforms, Inc. (Nasdaq: RIOT) (“Riot” or the “Company”) announced today that it completed its previously announced offering of its 0.75% convertible senior notes due 2030 (the “2030 Notes“). The total principal of the 2030 bonds sold in the offering was 594.4 million dollarsas contained 69.4 million dollars the aggregate principal amount of the 2030 Notes in respect of the partial exercise of the original purchaser’s option. The 2030 Notes were sold in a private offering only to persons reasonably believed to be qualified institutional purchasers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “The Securities Act“).

The net proceeds from the issue of the 2030 Bonds were approx 579.2 million dollarsafter deducting the original purchasers’ discounts and commissions and estimated offering expenses payable by Riot. Riot is pleased to announce that it has already used substantially all of the net proceeds from the offering to acquire additional Bitcoin.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the 2030 Notes, nor shall there be any sale of the 2030 Notes in any state or jurisdiction where such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction.

About Riot Platforms, Inc.

Riot’s (NASDAQ: RIOT) vision is to be the world leader Bitcoin-powered infrastructure platform.

Our mission is to positively influence the sectors, networks and communities that we touch. We believe that the combination of an innovative spirit and a strong community partnership enables the company to achieve the best execution and create successful results.

Riot is one Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The company has Bitcoin mining in central Texas and Kentucky, and electrical switchgear engineering and fabrication in Denver, Colorado.

For more information, visit www.riotplatforms.com.

Forward-looking statements

Statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions and estimates of future results and financial conditions. Such statements are based on the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hopes” and similar expressions are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements regarding the estimated net proceeds from the offering of the 2030 Notes and the anticipated use of such net proceeds. Detailed information about the factors identified by the company’s management that they believe could cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release can be found in the company’s filings with US Securities and Exchange Commission (the “SEC“), including the risks, uncertainties and other factors discussed under the “Risk Factors” and “Caution Regarding Forward-Looking Statements” sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, and the other reports that the company files with the SEC, copies of which may be obtained from the SEC’s website; www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise such forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company subsequently becomes aware. , except as required by law. Persons reading this press release are cautioned not to place undue reliance on such forward-looking statements.

For further information please contact:

Investor contact:
Phil McPherson
303-794-2000 local. 110
[email protected]

Media contact:
Alexis Brock
303-794-2000 local. 118
[email protected]

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SOURCE Riot Platforms, Inc.