Riot Platforms (RIOT) Closes $504.4M Convertible Notes Offering

Riot Platforms, Inc. (Nasdaq: RIOT) ("Riot" or the "Company") today announced that it completed its previously announced offering of its 0.75% convertible senior notes due 2030 (the "2030 Notes"). The aggregate principal amount of the 2030 Notes sold in the offering was $594.4 million, which included $69.4 million aggregate principal amount of the 2030 Notes relating to the partial exercise of the initial purchasers' option. The 2030 Notes were sold in a private offering only 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").

The net proceeds from the issuance of the 2030 Notes were approximately $579.2 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses payable by Riot. Riot is pleased to announce that it has already deployed 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 in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction.

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