Riot Platforms RIOT
We are a vertically integrated digital infrastructure company principally engaged in developing and optimizing our large-scale power assets. 10-K, Item 1
- Headquarters
- Castle Rock, CO
- CEO
- Jason Les
- Next results
- around Mar 1, 2027
RIOT among Crypto peers
Six ratios from the latest 10-K. Each corner is the share of 25 peers the company is above, not a score.
What changed
63 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Mar 2, 2026 against Feb 28, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
9 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 8 checks found nothing to note
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Going concern language“Any sustained decline in the value of bitcoin, or any inability to repurpose or redeploy our miners, could materially and adversely affect our business, financial condition, and results of operations, and could raise substantial doubt about our ability to continue as a going concern.”
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Receivables +9.8% vs revenue +71.9% (-62.1 pts)
7 more checks with nothing to note
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Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Mining Revenue; F-1
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
63 paragraphs in Risk Factors that were not in the 10-K filed Feb 28, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
Below is a summary of the principal factors that make an investment in our securities speculative or risky. Our industry is evolving and our business model is shifting toward data center development alongside bitcoin mining. We may be unable to compete effectively and our business and results of operations may be adversely affected.
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Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
Our expansion into data centers may divert resources from our existing operations and introduce operational complexity. Our success in the data center sector depends on our ability to attract qualified third-party partners and customers. Incorrectly estimating our data center lease capacity requirements and capital expenditures could…
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Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
Global macroeconomic, geopolitical, and public health events and resulting supply chain issues could adversely affect our business, financial condition, and operations. Changes in U.S. trade policy may have a material adverse impact on our business, financial condition and operations.
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Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
Changes to laws, regulations, or enforcement priorities may adversely impact our Bitcoin Mining and related activities.
New risk paragraphs, against peers
Latest 10-K of each, Crypto companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $259.2M | $280.7M | $376.7M | $647.4M |
| Net income | −$509.6M | −$49.5M | $109.4M | −$663.2M |
| Operating cash flow | $530K | $33.1M | −$255.1M | −$572.9M |
| Free cash flow | −$147.9M | −$160.6M | −$495.4M | −$774.3M |
Revenue, FY2017 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$647.4M ▲ 71.9% in FY2025−$663.2M in FY2025−$774.3M in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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8-KNov 4, 2026Material agreement ended, Quarterly results 8-K items 1.02, 2.02
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10-QNov 4, 2026Quarterly report (10-Q) period ended Sep 30, 2026
About the company
Riot Platforms, Castle Rock, CO · from the 10-K filed Mar 2, 2026
We are a vertically integrated digital infrastructure company principally engaged in developing and optimizing our large-scale power assets. Our business centers on enhancing our electrical infrastructure and deploying it across two complementary platforms: (i) Bitcoin Mining and (ii) scalable data center solutions designed to support non-mining workloads. By leveraging our energy portfolio, engineering capabilities, and operational footprint, we aim to capitalize on both the long-term potential of bitcoin and the accelerating demand for power-intensive compute.
- Headquarters
- Castle Rock, CO
- Country
- United States
- Reports in
- USD
- Listed on
- Nasdaq
- Fiscal year ends
- December 31
- Last results
- Nov 4, 2026
- Incorporated in
- NV
Email alerts
Sources
The 10-K filed Mar 2, 2026 (open at SEC), compared with the 10-K filed Feb 28, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/RIOT/export.csv") into a cell.