R
Riot Platforms, Inc.
Period
FY 2025
Revenue
$647.43M
Net Income
$-663.18M
Total Assets
$3.94B
Equity
$2.86B
Shares Out
378.15M
Op. Cash Flow
$-572.93M
Business
Riot Platforms, Inc. is a vertically integrated digital infrastructure company engaged in Bitcoin mining and data center development. The company operates large-scale power-intensive facilities in Texas and Kentucky, deploying specialized ASIC mining hardware and optimizing electrical infrastructure for mining workloads. It also provides engineering services and manufactures power-distribution equipment through its Engineering segment, and is actively developing data center leasing services to support non-mining compute workloads including AI and HPC applications.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 647 | 377 | 281 | 259 | 213 | |
| Acquisition-related costs | 187,000 | 6 | — | 78,000 | 21 | |
| Selling, general, and administrative | 299 | 267 | 100 | 67 | 87 | |
| Depreciation and amortization | 347 | 212 | 252 | 108 | 26 | |
| Change in fair value of bitcoin | 116 | −457 | −185 | — | — | |
| Change in fair value of derivative assets | 1 | −45 | −7 | −71 | −12 | |
| Power curtailment credits | −57 | −34 | −71 | −27 | −7 | |
| Change in fair value of contingent consideration | −18 | −2 | — | −159,000 | 975,000 | |
| Loss on contract settlement | 158 | — | — | — | — | |
| Loss on legal settlement | 20 | — | — | — | — | |
| Gain on acquisition post-close dispute settlement | −26 | — | — | — | — | |
| Loss (gain) on sale of equipment | −2 | 17 | 5 | −16 | — | |
| Casualty-related charges (recoveries), net | −174,000 | −3 | −6 | 10 | — | |
| Impairment of property and equipment | 30 | — | — | — | — | |
| Total costs and expenses | 1,270 | 223 | 344 | 772 | 243 | |
| Operating income (loss) | −622 | 154 | −63 | −513 | −30 | |
| Interest income | 14 | 27 | 11 | 2 | — | |
| Interest expense | −24 | −2 | −3 | −1 | — | |
| Loss on equity method investment - marketable securities | −28 | −69 | — | — | — | |
| Loss on convertible notes investment | −6 | — | — | — | — | |
| Other income (expense) | 3 | 863,000 | 260,000 | −59,000 | 2 | |
| Total other income (expense) | −41 | −43 | 8 | −9 | 15 | |
| Net income (loss) before taxes | −663 | 110 | −55 | −521 | −15 | |
| Current income tax benefit (expense) | 150,000 | −744,000 | 48,000 | −789,000 | −254,000 | |
| Deferred income tax benefit (expense) | — | — | 5 | 13 | — | |
| Total income tax benefit (expense) | 150,000 | −744,000 | 5 | 12 | −254,000 | |
| Net income (loss) | −663 | 109 | −49 | −510 | −15 | |
| Basic net income (loss) per share (in Dollars per share) | −1.95 | 0.4 | −0.28 | −3.65 | −0.17 | |
| Diluted net income (loss) per share (in Dollars per share) | −1.95 | 0.34 | −0.28 | −3.65 | −0.17 | |
| Basic weighted average number of shares outstanding (in Shares) | 341 | 276 | 175 | 139 | 93 | |
| Diluted weighted average number of shares outstanding (in Shares) | 341 | 319 | 175 | 139 | 93 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 234 | 278 | 597 | 230 | 255 | |
| Restricted cash | 76 | 73 | — | — | — | |
| Accounts receivable, net | 30 | 27 | 25 | 27 | 17 | |
| Contract assets | 8 | 7 | 15 | 20 | — | |
| Prepaid expenses and other current assets | 59 | 40 | 29 | 33 | 22 | |
| Derivative assets, current portion | 41 | 40 | 31 | — | — | |
| Equity method investment - marketable securities, at fair value | 0 | 134 | — | — | — | |
| Total current assets | 449 | 599 | 1,009 | 443 | 472 | |
| Property and equipment, net | 1,529 | 1,339 | 704 | 693 | 650 | |
| Bitcoin | 1,227 | 1,654 | — | — | — | |
| Restricted bitcoin | 348 | — | — | — | — | |
| Deposits | 77 | 30 | 215 | 42 | — | |
| Finite-lived intangible assets, net | 30 | 34 | 16 | 21 | 13 | |
| Derivative assets, less current portion | 107 | 109 | 73 | 97 | 113 | |
| Right-of-use assets | 30 | 27 | — | — | — | |
| Goodwill | 123 | 122 | — | — | — | |
| Other long-term assets | 18 | 20 | 13 | 310,000 | 310,000 | |
| Total assets | 3,937 | 3,935 | 2,051 | 1,320 | 1,449 | |
| Accounts payable | 23 | 18 | 23 | 18 | 13 | |
| Contract liabilities | 37 | 10 | 4 | 8 | — | |
| Accrued expenses | 143 | 76 | 62 | 65 | 39 | |
| Deferred gain on acquisition post-close dispute settlement | — | 26 | 26 | — | — | |
| Deferred revenue, current portion | — | 3 | 2 | 3 | — | |
| Contingent consideration liabilities, current portion | 6 | 24 | 271,000 | 24 | 40 | |
| Current portion of debt | 254 | 314,000 | 257,000 | — | — | |
| Operating lease liability, current portion | 6 | 5 | 2 | 2 | 2 | |
| Total current liabilities | 470 | 160 | 121 | 122 | 107 | |
| Deferred revenue, less current portion | — | 14 | 16 | 18 | 18 | |
| Operating lease liability, less current portion | 20 | 24 | 19 | 20 | 21 | |
| Contingent consideration liabilities, less current portion | 2 | 3 | 638,000 | 638,000 | — | |
| Debt, less current portion | 587 | 584 | 526,000 | — | — | |
| Other long-term liabilities | 19,000 | 6 | 6 | 8 | 8 | |
| Total liabilities | 1,078 | 792 | 163 | 169 | 154 | |
| Commitments and contingencies - Note 17 | — | — | — | — | — | |
| Preferred stock, no par value, 15,000,000 shares authorized: | — | — | — | — | — | |
| 2% Series A Convertible Preferred stock, 2,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | — | |
| 0% Series B Convertible Preferred stock, 1,750,001 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024 | — | — | — | — | — | |
| Common stock, no par value; 680,000,000 shares authorized; 371,573,949 and 344,890,208 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 4,212 | 3,834 | 2,688 | 1,908 | 1,891 | |
| Accumulated deficit | −1,354 | −690 | −800 | −756 | −596 | |
| Accumulated other comprehensive income (loss), net | — | 222,000 | 150,000 | — | — | |
| Total stockholders' equity | 2,858 | 3,144 | 1,888 | 1,151 | — | |
| Total liabilities and stockholders' equity | 3,937 | 3,935 | 2,051 | 1,320 | 1,449 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 126 | 125 | 32 | 25 | 68 | |
| Issuance of common stock to a third-party advisor | — | 2 | — | — | 1 | |
| Amortization of license fee revenue | −388,000 | −97,000 | −97,000 | −97,000 | −97,000 | |
| Noncash lease expense | 6 | 4 | 3 | 12 | 275,000 | |
| Amortization of debt issuance costs | 4 | 250,000 | — | — | — | |
| Deferred income tax expense (benefit) | — | — | −5 | −12 | 254,000 | |
| Change in fair value of derivative assets | 1 | −45 | −7 | −71 | −12 | |
| Change in fair value of contingent consideration | −18 | −2 | — | −159,000 | 975,000 | |
| Loss on contract settlement | 36 | — | — | — | — | |
| (Gain) loss on equity method investment - marketable securities | 28 | 69 | — | — | — | |
| Casualty-related charges | — | 310,000 | 2 | 10 | — | |
| Revenue recognized from bitcoin mined | −576 | −321 | −189 | −157 | −184 | |
| Proceeds from sale of bitcoin | — | 10 | 176 | 80 | 295,000 | |
| (Increase)/decrease in operating assets | −30 | 8 | 6 | 12 | −7 | |
| Increase/(decrease) in operating liabilities | 24 | 14 | −8 | 3 | 4 | |
| Net cash provided by (used in) operating activities | −573 | −255 | 33 | 530,000 | −86 | |
| Acquisition of bitcoin | — | −578 | — | — | — | |
| Acquisition of assets from Rhodium | −7 | — | — | — | — | |
| Acquisition of land | −148 | — | — | — | — | |
| Deposits on equipment | −214 | −442 | −230 | −195 | −275 | |
| Proceeds from sale of bitcoin | 535 | — | — | — | — | |
| Security deposits | 2 | −4 | — | — | — | |
| Proceeds from the sale of equity method investment - marketable securities | 106 | — | — | — | — | |
| Investment in equity method investment - marketable securities | — | −204 | — | — | — | |
| Investment in convertible debt | — | — | −5 | — | — | |
| Purchases of property and equipment, including construction in progress | −201 | −240 | −194 | −148 | −147 | |
| Purchases of right-of-use assets | −4 | — | — | — | — | |
| Casualty-related recoveries | 174,000 | 3 | 8 | — | — | |
| Proceeds from the sale of equipment | 7 | 14 | 6 | — | — | |
| Patent costs incurred | — | — | −34,000 | −10 | −30,000 | |
| Net cash provided by (used in) investing activities | 76 | −1,509 | −415 | −355 | −491 | |
| Proceeds from the issuance of common stock / At-the-market offering | 213 | 977 | 778 | 305 | 685 | |
| Offering costs for the issuance of common stock / At-the-market offering | −5 | −20 | −17 | −7 | −15 | |
| Proceeds from issuance of convertible notes | — | 594 | — | — | — | |
| Repayments of revolving credit facilities | −7 | −866,000 | −6 | — | — | |
| Debt issuance costs | −2 | −15 | −77,000 | — | — | |
| Repayment of debt assumed in Block Mining Acquisition | — | −5 | — | — | — | |
| Repayment of note payable | — | −352,000 | — | — | — | |
| Repurchase of common shares to pay employee withholding taxes | −4 | −12 | −14 | −10 | −5 | |
| Net cash provided by (used in) financing activities | 455 | 1,518 | 749 | 272 | 666 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | −42 | −246 | 367 | −82 | 89 | |
| Cash paid for interest | 15 | 45,000 | 84,000 | — | — | |
| Cash paid for taxes | 1 | 107,000 | 680,000 | — | — | |
| Issuance of common stock for the Block Mining Acquisition | — | 74 | — | — | 353 | |
| Reclassification of deposits to property and equipment | 165 | 623 | 78 | 423 | 47 | |
| Construction in progress included in accrued expenses | 51 | 15 | 23 | 17 | 2 |
Filings
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Frequently asked questions
What is Riot Platforms, Inc.'s CIK number?
Riot Platforms, Inc.'s SEC CIK number is 0001167419 (1167419). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Riot Platforms, Inc.'s SEC filings?
All of Riot Platforms, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Riot Platforms, Inc. last report earnings?
Riot Platforms, Inc. (RIOT) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-052943). This is Riot Platforms, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Riot Platforms, Inc.'s most recent earnings 8-K?
Riot Platforms, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001104659-26-052943. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Riot Platforms, Inc.'s latest earnings 8-K →
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