Riot Platforms, a Nasdaq-listed bitcoin miner, has announced plans to raise $525 million by issuing 0.75% annual convertible senior notes, which will be sold through private placement only to qualified institutional buyers. The offering is an expansion of the previously announced $500 million principal issue and is expected to close on December 11, 2024, subject to customary closing conditions. Riot said it plans to use the net proceeds from the offering to purchase additional bitcoins for general corporate purposes. Previously, on December 9, Riot announced plans to issue 500 million USD convertible senior notes privately, primarily for bitcoin acquisitions and general corporate use.