Riot Platforms Files 8-K Report

TL;DR

Riot Platforms filed an 8-K, standard compliance stuff, no major news yet.

AI Summary

On December 16, 2024, Riot Platforms, Inc. filed an 8-K report. The filing primarily concerns Regulation FD disclosures, other events, and financial statements and exhibits. No specific new financial figures or material events were detailed in the provided excerpt, but it indicates ongoing reporting requirements.

Why It Matters

This filing signifies Riot Platforms' continued compliance with SEC reporting regulations, providing updates on company events and financial disclosures to investors.

Risk Assessment

Risk Level: low — The filing is a routine 8-K report for regulatory compliance and does not disclose any new material risks or adverse information.

Key Players & Entities

• Riot Platforms, Inc. (company) — Registrant
• 0001558370-24-016266 (other) — Accession Number
• December 16, 2024 (date) — Report Date
• Nevada (jurisdiction) — State of Incorporation
• 3855 Ambrosia Street, Suite 301 (address) — Business Address

FAQ

Key Financial Figures

• $594.4 million — of its previously announced offering of $594.4 million aggregate principal amount of the 2030
• $67.5 million — oximately 667 Bitcoin for approximately $67.5 million at an average price of $101,135 per Bit
• $101,135 — ly $67.5 million at an average price of $101,135 per Bitcoin, inclusive of fees and expe

Filing Documents

• riot-20241216x8k.htm (8-K) — 77KB
• riot-20241216xex99d1.htm (EX-99.1) — 10KB
• 0001558370-24-016266.txt ( ) — 222KB
• riot-20241216.xsd (EX-101.SCH) — 4KB
• riot-20241216_def.xml (EX-101.DEF) — 3KB
• riot-20241216_lab.xml (EX-101.LAB) — 17KB
• riot-20241216_pre.xml (EX-101.PRE) — 11KB
• riot-20241216x8k_htm.xml (XML) — 5KB

01 – Regulation FD Disclosure

Item 7.01 – Regulation FD Disclosure. BTC Yield KPI From October 1, 2024 to December 13, 2024, Riot Platforms, Inc.'s (the " Company ") BTC Yield was 36.7%. From January 1, 2024 to December 13, 2024, the Company's BTC Yield was 37.2%. BTC Yield is a key performance indicator (" KPI ") that represents the percentage change period-to-period of the ratio between the Company's Bitcoin holdings and its Assumed Diluted Shares Outstanding. Assumed Diluted Shares Outstanding refers to the aggregate of the Company's actual shares of common stock outstanding as of the end of the applicable period plus all additional shares that would result from the assumed conversion of all outstanding convertible notes, exercise of all outstanding stock option awards, and settlement of all outstanding shares of restricted stock, restricted stock units, and performance stock units. The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring and holding Bitcoin on its balance sheet to drive stockholder value. The Company believes this KPI may be used to supplement an investor's understanding of the Company's decision to fund the purchase of Bitcoin by issuing additional shares of its common stock or instruments convertible to common stock. BTC Yield and Basic and Assumed Diluted Shares Outstanding 12/31/2023 9/30/2024 12/13/2024 Total Bitcoin Holdings (Quantity) 7,362 10,427 17,429 Shares Outstanding (in 000s) Common Stock 230,836 324,280 343,927 Basic Shares Outstanding(1) 230,836 324,280 343,927 2030 Convertible Shares — — 52,984 Warrants 63 63 63 RSUs/PSUs Unvested 401 2,147 2,145 Assumed Diluted Shares Outstanding (2) 231,300 326,490 399,199 BTC per 1,000 Assumed Diluted Shares Outstanding 31,829 31,937 43,586 BTC Yield % (Quarter to Date) 36.7 % BTC Yield % (Year to Date) 37.2 % (1) Basic Shares Outstanding reflects the Company's actual common stock outstanding as of the dates presented. For

01 – Other Events

Item 8.01 – Other Events. Convertible Notes Offering On December 16, 2024, the Company issued a press release announcing the closing of its previously announced offering of $594.4 million aggregate principal amount of the 2030 Notes, which included the partial exercise by the initial purchasers of their option to purchase additional 2030 Notes. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Bitcoin Holdings Update During the period between December 12, 2024 and December 13, 2024, the Company acquired approximately 667 Bitcoin for approximately $67.5 million at an average price of $101,135 per Bitcoin, inclusive of fees and expenses. As of December 13, 2024, the Company increased its total holdings to 17,429 Bitcoin. The Bitcoin purchases were made using a portion of the net proceeds from the issuance and sale of the 2030 Notes, as well as cash on hand .

01 – Financial Statements and Exhibits

Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX The following exhibits are filed or furnished herewith: Exhibit No. Description 99.1 Press Release, dated December 16, 2024 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) S I G N A T U R E 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. By: /s/ Colin Yee Name: Colin Yee Title: Chief Financial Officer Date: December 16, 2024

View Full Filing

View this 8-K filing on SEC EDGAR