Riot Platforms Launches $500 Million ATM Equity Offering Amid Mining Profitability Challenges
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 05 2026- New Financing Plan: Riot Platforms has launched an at-the-market equity offering of up to $500 million, replacing its previous program, reflecting ongoing pressure on bitcoin mining profitability as management opted to reset the structure rather than extend the old agreement.
- Historical Sales Review: Under the prior ATM agreement, Riot sold approximately $605 million in shares, leaving about $149.5 million unused, indicating an increased reliance on capital markets for funding.
- Mining Cost Pressure: According to estimates from TheMinerMag, Riot's total hashcost reached roughly $38.5 per PH/s in Q3, slightly above current network hashprice levels, suggesting that the company's mining operations are running near breakeven, limiting its ability to self-fund.
- Market Trend Reflection: The new ATM agreement expands Riot's group of sales agents, highlighting that external funding has become critical for miners to maintain liquidity and financial flexibility amid thin margins in the mining sector.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
