Riot Platforms opened a new $500 million at-the-market equity offering this week as the bitcoin miner reported lower November production and continued to sell a large portion of its monthly output to fund operations and expansion.

In a filing with the U.S. Securities and Exchange Commission yesterday, Riot said it entered into a definitive sales agreement allowing it to issue and sell up to $500 million of common stock at prevailing market prices through the Nasdaq Capital Market. 

The facility replaces a prior at-the-market program established in August 2024, which Riot terminated effective Tuesday.

Under the new agreement, Riot retains discretion over the timing and volume…

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