Due to the continuous decline in Bitcoin hash rate prices, which has limited the company's internal cash flow, Riot Platforms has replaced its original plan to issue stock at market price with a new $500 million secondary offering plan. The company has terminated an agreement reached in August 2024, which originally planned to sell approximately $600.5 million worth of stock. In the third quarter, Riot Platforms' total hash rate cost was estimated at $38.5 per PH/s, close to the current hash rate price level. Its core mining business may have already reached breakeven, so the company will rely more on external capital for expansion and diversify into areas such as artificial intelligence infrastructure.