RIOTRiot Platforms
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
What the 10-K filed 2026-03-02 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-28.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
“During the years ended December 31, 2025, 2024, and 2023, aside from the Bitcoin Mining revenue generated as a result of the Company’s participation in a mining pool, no single customer or related group of customers contributed 10% or more of the Company’s total consolidated revenue.”
Read it in the 10-K ↗
Key suppliers
3 newParts or manufacturing that depend on one or a few suppliers.
New “As a result, only a limited number of suppliers are capable of providing miners in the quantities and performance specifications required by large-scale operators.”
Read it in the 10-K ↗
New “The supply of high-quality mining machines is limited, as only a small number of manufacturers produce miners capable of meeting industry requirements.”
Read it in the 10-K ↗
New “Because a substantial portion of our fleet relies on machines produced by a limited number of manufacturers, any exploitable weakness, firmware vulnerability, or systemic flaw affecting a particular model or manufacturer could impair a significant percentage, or potentially all, of our deployed miners.”
Read it in the 10-K ↗
Lawsuits and legal claims
5 newPending cases, settlements and what the company has set aside for them.
New “The increase of approximately $31.9 million was primarily due to a $17.3 million increase in legal and professional fees primarily related to ongoing litigation and an $8.7 million increase in compensation expense, including stock based compensation, as a result of hiring additional employees to support our ongoing growth and data center team.”
Read it in the 10-K ↗
New “On April 28, 2025, the Company’s subsidiary, Whinstone acquired certain assets owned by Rhodium Encore LLC (together with its affiliates, “Rhodium”) located at the Rockdale Facility, assumed Rhodium’s 125 MW of power capacity at the Rockdale Facility, terminated the legacy hosting agreements with Rhodium, and settled all existing litigation between the parties for total consideration of $185.0 million (the “Rhodium Settlement”).”
Read it in the 10-K ↗
New “The settled litigation and claims include all existing claims between the parties, and any and all claims, or future claims, arising under the hosting contracts.”
Read it in the 10-K ↗
New “(together with Malikie, the “Plaintiffs”) filed suit against the Company, Foundry Digital LLC, Fortitude Mining, LLC, and Cipher Mining Inc.”
Read it in the 10-K ↗
New “SBI attempted to update its alleged damages to over $350.0 million in purported lost profits through an updated expert report which the court has since stricken.”
Read it in the 10-K ↗
Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
No specific sentence about this in the 10-K.
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
No specific sentence about this in the 10-K.
Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on RIOT in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/RIOT/export.csv") into a cell.