---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-125324"
form_type: "8-K"
ticker: "RIOT"
cik: "0001167419"
company_name: "Riot Platforms, Inc."
filed_at: "2025-12-31T23:59:59+00:00"
generated_at: "2026-05-16T11:53:00.652483+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Riot Platforms enters $500M ATM equity offering, terminates prior $750M program

## Summary
- New sales agreement with 9 agents for up to $500M in common stock at-the-market.
- Commissions to agents up to 1% of gross proceeds from sales.
- Terminated 2024 sales agreement under which $600.5M was already sold; $149.5M unsold.
- No termination costs associated with ending the prior agreement.
- Offering may be suspended or terminated at any time; agent obligations limited.

## SEC filing metadata
- accession: 0001104659-25-125324
- form_type: 8-K
- ticker: RIOT
- cik: 0001167419
- company_name: Riot Platforms, Inc.
- filed_at: 2025-12-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1167419/000110465925125324/0001104659-25-125324-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1167419/000110465925125324/riot-20251230x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-125324
- JSON: https://secwatch.observer/filing/0001104659-25-125324.json
- Plain text: https://secwatch.observer/filing/0001104659-25-125324.txt

## Key facts
- Material Agreements
  Riot Platforms, Inc. terminated 2024 Sales Agreement with Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Keefe, Bruyette & Woods, Inc., as successor in interest to Stifel Nicolaus Canada Inc., Compass Point Research & Trading, LLC, Northland Securities, Inc., and ATB Capital Markets USA Inc. valued at terminated effective December 30, 2025 (effective 2025-12-30).
  - Action: termination
  - Agreement: atm program
  - Counterparty: Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Keefe, Bruyette & Woods, Inc., as successor in interest to Stifel Nicolaus Canada Inc., Compass Point Research & Trading, LLC, Northland Securities, Inc., and ATB Capital Markets USA Inc.
  - Value: terminated effective December 30, 2025
  - Effective: 2025-12-30
  source text: Effective as of December 30, 2025, the Company terminated the prior sales agreement, dated as of August 9, 2024 (the “ 2024 Sales Agreement ”), with Cantor Fitzgerald & Co., B. Riley Securities, Inc., BTIG, LLC, Roth Capital Partners, LLC, Keefe, Bruyette & Woods, Inc., as successor in interest to Stifel Nicolaus Canada Inc., Compass Point Research & Trading, LLC, Northland Securities, Inc., and ATB Capital Markets USA Inc., a copy of which is filed as Exhibit 1.1 to the Company’s current report on Form 8-K filed with the SEC on August 9, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1167419/000110465925125324/0001104659-25-125324-index.htm
- Material Agreements
  Riot Platforms, Inc. entered into 2025 Sales Agreement with B. Riley Securities, Inc., BTIG, LLC, Cantor Fitzgerald & Co., Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc., Morgan Stanley & Co. LLC, Needham & Company, LLC, Northland Securities, Inc., and Roth Capital Partners, LLC valued at up to $500,000,000 (effective 2025-12-30).
  - Action: entry
  - Agreement: atm program
  - Counterparty: B. Riley Securities, Inc., BTIG, LLC, Cantor Fitzgerald & Co., Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc., Morgan Stanley & Co. LLC, Needham & Company, LLC, Northland Securities, Inc., and Roth Capital Partners, LLC
  - Value: up to $500,000,000
  - Effective: 2025-12-30
  source text: On December 30, 2025, Riot Platforms, Inc. (“ Riot ”, the “ Company ”, “ we ”, “ us ”, “ our ”, etc.) entered into a sales agreement, dated as of December 30, 2025 (the “ 2025 Sales Agreement ”), with the sales agents identified therein: B. Riley Securities, Inc., BTIG, LLC, Cantor Fitzgerald & Co., Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc., Morgan Stanley & Co. LLC, Needham & Company, LLC, Northland Securities, Inc., and Roth Capital Partners, LLC (collectively, the “ Sales Agents ”). Pursuant to the 2025 Sales Agreement, we may offer and sell, to or through the Sales Agents, an indeterminate number of shares of Riot’s common stock, no par value per share (“ Common Stock ”), having an aggregate initial offering price of up to $500,000,000 (the “ Placement Shares ”) at prevailing market prices from time to time, in an “at-the-market offering” within the meaning of Rule 415 of the Securities Act of 1933, as amended (the “ Securities Act ”), including sales made to the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1167419/000110465925125324/0001104659-25-125324-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.