Riot Platforms Files 8-K Report
Ticker: RIOT · Form: 8-K · Filed: Dec 9, 2024 · CIK: 1167419
| Field | Detail |
|---|---|
| Company | Riot Platforms, Inc. (RIOT) |
| Form Type | 8-K |
| Filed Date | Dec 9, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1.102 b, $500 million, $75 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, 8-k
TL;DR
Riot Platforms filed an 8-K, likely containing routine disclosures and exhibits.
AI Summary
On December 9, 2024, Riot Platforms, Inc. filed an 8-K report. The filing primarily concerns financial statements and exhibits, along with a Regulation FD Disclosure and other events. No specific new financial figures or material events were detailed in the provided excerpt.
Why It Matters
This filing indicates Riot Platforms is submitting required documentation to the SEC, which could contain updates or disclosures relevant to investors.
Risk Assessment
Risk Level: low — The provided text is a standard SEC filing notification and does not contain specific material events or financial data that would indicate a change in risk.
Key Players & Entities
- Riot Platforms, Inc. (company) — Registrant
- Nevada (jurisdiction) — State of incorporation
- 001-33675 (company_id) — Commission File Number
- 84-1553387 (company_id) — I.R.S. Employer Identification No.
- December 9, 2024 (date) — Date of earliest event reported
FAQ
What specific 'Other Events' are being disclosed in this 8-K filing?
The provided excerpt does not detail the specific 'Other Events' being disclosed in the 8-K filing.
Are there any new financial statements or exhibits attached to this filing that are immediately available?
The filing indicates that 'Financial Statements and Exhibits' are included, but the specific content of these exhibits is not detailed in the provided excerpt.
Does this 8-K filing announce any significant corporate actions or changes for Riot Platforms, Inc.?
The excerpt mentions 'Regulation FD Disclosure' and 'Other Events' as items in the filing, but does not specify any significant corporate actions or changes.
What is the significance of the 'Regulation FD Disclosure' item in this filing?
A Regulation FD Disclosure item typically means the company is making public disclosures to prevent selective disclosure of material non-public information.
What was Riot Platforms, Inc. formerly known as?
Riot Platforms, Inc. was formerly known as Riot Blockchain, Inc., Bioptix, Inc., and Venaxis, Inc., with name changes occurring on October 4, 2017, December 1, 2016, and December 18, 2012, respectively.
Filing Stats: 1,375 words · 6 min read · ~5 pages · Grade level 13.8 · Accepted 2024-12-09 07:04:34
Key Financial Figures
- $1.102 b — coin with a fair value of approximately $1.102 billion, as determined using the closing
- $500 million — to market conditions and other factors, $500 million aggregate principal amount of its conve
- $75 million — s are first issued, up to an additional $75 million aggregate principal amount of the notes
Filing Documents
- tm2430044d2_8k.htm (8-K) — 32KB
- tm2430044d2_ex99-1.htm (EX-99.1) — 11KB
- 0001104659-24-126515.txt ( ) — 219KB
- riot-20241209.xsd (EX-101.SCH) — 3KB
- riot-20241209_lab.xml (EX-101.LAB) — 33KB
- riot-20241209_pre.xml (EX-101.PRE) — 22KB
- tm2430044d2_8k_htm.xml (XML) — 4KB
01
Item 7.01 Regulation FD Disclosure. Riot Platforms, Inc. (the " Company ") is providing the disclosure below which the Company included in the preliminary offering memorandum, dated December 9, 2024, relating to the Convertible Notes Offering (as defined in Item 8.01 of this Current Report on Form 8-K): Recent Developments As of November 30, 2024, the Company held 11,425 Bitcoin with a fair value of approximately $1.102 billion, as determined using the closing price of Bitcoin on the Company's principal market, Coinbase (the " Principal Market "), as of November 30, 2024. All of the Company's Bitcoin held as of November 30, 2024 were produced from the Company's Bitcoin Mining operations. The Company's Bitcoin is recorded at fair value in the Company's consolidated financial statements, as determined using the period-end closing price of Bitcoin on the Principal Market, and changes in fair value are recognized in Change in fair value of Bitcoin, in Operating income (loss) on the Company's Consolidated Statements of Operations. Each of the number of Bitcoin held and the fair value of the Company's Bitcoin held as of November 30, 2024 is preliminary and unaudited, and is not necessarily indicative of the number of Bitcoin held or fair value thereof to be achieved in any future period. Accordingly, these unaudited estimates are not comprehensive statements or estimates of the Company's financial results or financial condition as of November 30, 2024, December 31, 2024 or any other future period. The number and fair value of the Company's Bitcoin held as of November 30, 2024 has been prepared by, and is the responsibility of, the Company's management. In addition, Deloitte & Touche LLP, the Company's independent registered public accounting firm, has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to such information. Accordingly, Deloitte & Touche LLP does not express an opinion or any other form of assurance with resp
01
Item 8.01 Other Events On December 9, 2024, the Company issued a press release announcing its intention to offer (the " Convertible Notes Offering "), subject to market conditions and other factors, $500 million aggregate principal amount of its convertible senior notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the " Securities Act "), and to grant to the initial purchasers of the notes an option to purchase, within a three-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75 million aggregate principal amount of the notes. A copy of the press release announcing the offering is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in Item 8.01 of this Current Report on Form 8-K shall not constitute an offer to sell, or a solicitation of an offer to buy the notes, nor shall there be any sale of, the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Cautionary Note Regarding Forward-Looking Statements and the exhibit attached hereto that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act and Section 21E of the Exchange Act. 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," "hope," and similar expressions are intended to identify forward-looki
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits 99.1 Press Release, dated December 9, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RIOT PLATFORMS, INC. December 9, 2024 By: /s/ Colin Yee Colin Yee Chief Financial Officer