Riot Platforms Inc. has entered into a definitive agreement with its sales agents to establish an at-the-market equity program allowing the company to issue up to $500 million of common shares. Under the terms of the program, shares may be sold from time to time on the Nasdaq Capital Market and other trading venues at prevailing market prices. Proceeds from the program will enhance Riot’s liquidity, support ongoing expansion of its mining operations in Texas and Kentucky, and provide additional flexibility to pursue data-center and power distribution infrastructure projects without the need for high-cost debt financing.

During the third quarter, New York City-based OnyxPoint Global Management initiated a new position in Riot, acquiring 232,206 shares for an aggregate cost of $4.42 million. The stake represents approximately 2.38% of OnyxPoint’s $185.6 million in U.S. equity holdings across eight positions. This move underscores institutional recognition of Riot’s transition from a pure cryptocurrency miner to an infrastructure-oriented business with significant operating leverage and balance-sheet strength.

Riot reported record third-quarter revenue of $180.2 million, reversing last year’s comparable‐period loss of $154.4 million. Net income reached $104.5 million, and adjusted EBITDA totaled $197.2 million—driven by higher Bitcoin network rewards, improved cost controls and power-curtailment credits that meaningfully reduced energy expenses. During the quarter, Riot mined 1,406 Bitcoin at an average cash cost of $46,324 per coin. The company ended the period holding 19,287 Bitcoin on its balance sheet alongside $330.7 million in unrestricted cash, positioning it for rapid deployment of capital into its 112-megawatt Corsicana campus expansion and other large-scale projects.