RIOT Chart
About

Riot Platforms, Inc., together with its subsidiaries, operates as a Bitcoin mining company in the United States. It operates in two segments, Bitcoin Mining and Engineering. The company offers comprehensive and critical infrastructure for bitcoin mining and data center services at its facilities. The company also designs and manufactures power distribution equipment and engineered-to-order electrical products; and electricity distribution product design, manufacturing, and installation services for large-scale industrial and governmental customers, as well as data center, power generation, utility, water, industrial, and alternative energy markets. The company was founded in 2000 and is based in Castle Rock, Colorado.

Fundamentals
Scroll to Statements
Sector Financial Services Industry Capital Markets Market Cap 5.61B
Enterprise Value 6.25B Income -663.18M Sales 647.44M
Book/sh 7.69 Cash/sh 0.62 Dividend Yield
Payout 0.00% Employees 816 IPO
P/E Forward P/E -38.74 PEG
P/S 8.67 P/B 1.93 P/C
EV/EBITDA -36.95 EV/Sales 9.65 Quick Ratio 0.58
Current Ratio 0.95 Debt/Eq 30.32 LT Debt/Eq
EPS (ttm) -1.97 EPS next Y -0.38 EPS Growth
Revenue Growth 7.20% Earnings 2026-04-30 ROA -8.19%
ROE -22.10% ROIC Gross Margin 37.93%
Oper. Margin -4.25% Profit Margin -102.43% Shs Outstand 379.13M
Shs Float 348.28M Short Float 13.84% Short Ratio 2.31
Short Interest 52W High 23.93 52W Low 6.19
Beta 3.55 Avg Volume 18.50M Volume 14.67M
Target Price $25.94 Recom Strong_buy Prev Close $14.64
Price $14.81 Change 1.16%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$25.94
Mean price target
2. Current target
$14.81
Latest analyst target
3. DCF / Fair value
$-12.19
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.81
Low
$13.92
High
$42.00
Mean
$25.94

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-04 main Macquarie Outperform → Outperform $30
2026-03-03 main Cantor Fitzgerald Overweight → Overweight $29
2026-03-03 main Piper Sandler Overweight → Overweight $21
2026-03-03 main Needham Buy → Buy $24
2026-03-03 main HC Wainwright & Co. Buy → Buy $23
2026-01-27 main Keefe, Bruyette & Woods Outperform → Outperform $23
2026-01-20 main Needham Buy → Buy $30
2025-12-22 main Citigroup Buy → Buy $23
2025-11-25 main JP Morgan Overweight → Overweight $20
2025-11-24 main JP Morgan Overweight → Overweight $17
2025-11-19 init Citizens — → Market Outperform $25
2025-11-05 main Cantor Fitzgerald Overweight → Overweight $25
2025-11-03 main Bernstein Outperform → Outperform $25
2025-10-31 reit Piper Sandler Overweight → Overweight $26
2025-10-31 main Needham Buy → Buy $28
2025-10-22 main Macquarie Outperform → Outperform $30
2025-10-14 main BTIG Buy → Buy $28
2025-10-06 main Cantor Fitzgerald Overweight → Overweight $26
2025-10-02 main Northland Capital Markets Outperform → Outperform $25
2025-09-29 main Macquarie Outperform → Outperform $22
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 1420677 Stock Award(Grant) at price 0.00 per share. LES JASON Chief Executive Officer 2025-12-31 00:00:00 D
1 1420677 Stock Award(Grant) at price 0.00 per share. YI SOO IL BENJAMIN Officer and Director 2025-12-31 00:00:00 D
2 591948 Stock Award(Grant) at price 0.00 per share. JACKMAN WILLIAM RICHARD Officer 2025-12-31 00:00:00 D
3 177582 Stock Award(Grant) at price 0.00 per share. WERNER RYAN D. Officer 2025-12-31 00:00:00 D
4 710337 Stock Award(Grant) at price 0.00 per share. CHUNG JASON Officer 2025-12-31 00:00:00 D
5 591948 Stock Award(Grant) at price 0.00 per share. HOWELL STEPHEN MITCHELL JR Chief Operating Officer 2025-12-31 00:00:00 D
6 710337 Stock Award(Grant) at price 0.00 per share. GIBBS JONATHAN Officer 2025-12-31 00:00:00 D
7 14984 344632.0 Sale at price 23.00 per share. WERNER RYAN D. Officer 2025-10-10 00:00:00 D
8 113948 2283518.0 Sale at price 20.04 per share. LES JASON Chief Executive Officer 2025-10-03 00:00:00 I
9 12800 256000.0 Sale at price 20.00 per share. LES JASON Chief Executive Officer 2025-09-29 00:00:00 I
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-63.06K2.81M17.93M-9.69M
TaxRateForCalcs0.000.010.090.02
NormalizedEBITDA-13.51M-91.30M8.55M18.08M
TotalUnusualItems-278.87M415.48M192.09M-430.12M
TotalUnusualItemsExcludingGoodwill-278.87M415.48M192.09M-430.12M
NetIncomeFromContinuingOperationNetMinorityInterest-663.18M109.40M-49.47M-509.55M
ReconciledDepreciation346.81M212.05M252.35M107.95M
ReconciledCostOfRevenue401.88M262.75M254.33M193.70M
EBITDA-292.38M324.18M200.64M-412.04M
EBIT-639.19M112.13M-51.71M-519.99M
NetInterestIncome-10.16M25.18M8.22M454.00K
InterestExpense24.14M1.99M2.85M1.31M
InterestIncome13.98M27.17M11.08M1.76M
NormalizedIncome-384.38M-303.27M-223.64M-89.13M
NetIncomeFromContinuingAndDiscontinuedOperation-663.18M109.40M-49.47M-509.55M
TotalExpenses990.73M708.04M535.82M341.75M
TotalOperatingIncomeAsReported-622.17M153.59M-63.05M-512.70M
DilutedAverageShares318.93M175.03M139.43M93.45M
BasicAverageShares275.98M175.03M139.43M93.45M
DilutedEPS0.34-0.28-3.65-0.17
BasicEPS0.40-0.28-3.65-0.17
DilutedNIAvailtoComStockholders-663.18M109.40M-49.47M-509.55M
NetIncomeCommonStockholders-663.18M109.40M-49.47M-509.55M
NetIncome-663.18M109.40M-49.47M-509.55M
MinorityInterests0.000.00
NetIncomeIncludingNoncontrollingInterests-663.18M109.40M-49.47M-509.55M
NetIncomeContinuousOperations-663.18M109.40M-49.47M-509.55M
TaxProvision-150.00K744.00K-5.09M-11.75M
PretaxIncome-663.33M110.14M-54.56M-521.30M
OtherIncomeExpense-309.87M416.34M192.35M-439.17M
OtherNonOperatingIncomeExpenses-2.81M863.00K260.00K-59.00K
SpecialIncomeCharges-161.54M-17.72M638.00K-531.88M
GainOnSaleOfPPE2.27M-17.43M-5.34M16.28M
GainOnSaleOfBusiness0.00
OtherSpecialCharges151.96M-2.79M-5.97M9.69M
WriteOff0.000.00147.37M43.97M
ImpairmentOfCapitalAssets29.74M0.000.00391.19M
RestructuringAndMergernAcquisition-17.88M3.08M0.00-81.00K
EarningsFromEquityInterest-28.19M-9.00M
GainOnSaleOfSecurity-117.33M433.20M191.46M101.76M
NetNonOperatingInterestIncomeExpense-10.16M25.18M8.22M454.00K
InterestExpenseNonOperating24.14M1.99M2.85M1.31M
InterestIncomeNonOperating13.98M27.17M11.08M1.76M
OperatingIncome-343.30M-331.38M-255.14M-82.58M
OperatingExpense588.86M445.28M281.49M148.06M
OtherOperatingExpenses-56.73M-33.69M-71.22M-27.34M
DepreciationAmortizationDepletionIncomeStatement346.81M212.05M252.35M107.95M
DepreciationAndAmortizationInIncomeStatement346.81M212.05M252.35M107.95M
SellingGeneralAndAdministration298.78M266.92M100.35M67.45M
GrossProfit245.56M113.90M26.34M65.47M
CostOfRevenue401.88M262.75M254.33M193.70M
TotalRevenue647.43M376.66M280.68M259.17M
OperatingRevenue640.96M359.49M253.30M222.21M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber371.58M344.89M230.84M167.75M
ShareIssued371.58M344.89M230.84M167.75M
NetDebt607.28M306.76M
TotalDebt866.76M613.16M22.13M22.25M
TangibleBookValue2.55B2.98B1.86B1.12B
InvestedCapital3.70B3.73B1.89B1.15B
WorkingCapital-21.07M439.09M887.56M321.84M
NetTangibleAssets2.55B2.98B1.86B1.12B
CapitalLeaseObligations25.96M28.54M21.34M22.25M
CommonStockEquity2.86B3.14B1.89B1.15B
PreferredStockEquity11.00K
TotalCapitalization3.45B3.73B1.89B1.15B
TotalEquityGrossMinorityInterest2.86B3.14B1.89B1.15B
MinorityInterest0.00
StockholdersEquity2.86B3.14B1.89B1.15B
GainsLossesNotAffectingRetainedEarnings0.00222.00K150.00K0.00
OtherEquityAdjustments222.00K150.00K
RetainedEarnings-1.35B-690.42M-799.82M-756.34M
CapitalStock4.21B3.83B2.69B1.91B
CommonStock4.21B3.83B2.69B1.91B
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest1.08B791.62M163.06M168.52M
TotalNonCurrentLiabilitiesNetMinorityInterest608.59M631.24M42.04M46.98M
OtherNonCurrentLiabilities19.00K6.19M6.15M8.23M
DerivativeProductLiabilities2.01M3.23M638.00K638.00K
NonCurrentDeferredLiabilities0.0013.59M15.80M17.87M
NonCurrentDeferredRevenue0.0013.59M15.80M17.87M
LongTermDebtAndCapitalLeaseObligation606.56M608.23M19.45M20.24M
LongTermCapitalLeaseObligation19.65M23.91M18.92M20.24M
LongTermDebt586.91M584.31M526.00K
CurrentLiabilities469.77M160.38M121.02M121.54M
OtherCurrentLiabilities6.18M23.63M271.00K24.30M
CurrentDeferredLiabilities37.12M38.54M32.54M11.33M
CurrentDeferredRevenue37.12M12.54M6.53M11.33M
CurrentDebtAndCapitalLeaseObligation260.20M4.93M2.68M2.01M
CurrentCapitalLeaseObligation6.31M4.62M2.42M2.01M
CurrentDebt253.89M314.00K257.00K
OtherCurrentBorrowings253.89M314.00K257.00K
PensionandOtherPostRetirementBenefitPlansCurrent20.94M21.22M14.89M8.58M
PayablesAndAccruedExpenses145.33M72.06M70.64M75.33M
CurrentAccruedExpenses110.68M45.10M47.48M56.88M
Payables34.65M26.96M23.16M18.45M
TotalTaxPayable11.23M9.36M
AccountsPayable23.42M17.61M23.16M18.45M
TotalAssets3.94B3.94B2.05B1.32B
TotalNonCurrentAssets3.49B3.34B1.04B876.58M
OtherNonCurrentAssets365.84M19.55M13.12M310.00K
NonCurrentPrepaidAssets76.51M30.11M215.01M42.43M
FinancialAssets106.67M109.47M74.08M98.14M
InvestmentsAndAdvances1.23B1.65B0.00310.00K
InvestmentinFinancialAssets1.23B1.65B0.00
AvailableForSaleSecurities1.23B1.65B
GoodwillAndOtherIntangibleAssets313.02M166.84M26.02M31.64M
OtherIntangibleAssets190.52M44.96M26.02M31.64M
Goodwill122.50M121.89M0.000.00
NetPPE1.40B1.36B714.29M704.06M
AccumulatedDepreciation-605.04M-446.27M-359.44M-122.18M
GrossPPE2.00B1.80B1.07B826.24M
ConstructionInProgress165.62M82.97M166.97M97.23M
OtherProperties975.87M955.36M516.64M463.00M
MachineryFurnitureEquipment59.08M47.46M41.25M36.33M
BuildingsAndImprovements803.03M715.86M348.87M229.69M
Properties0.000.000.000.00
CurrentAssets448.71M599.48M1.01B443.38M
OtherCurrentAssets59.45M40.29M29.11M32.66M
HedgingAssetsCurrent41.38M40.02M31.05M24.30M
RestrictedCash76.27M73.44M0.00
PrepaidAssets7.13M
Receivables38.10M33.60M40.06M46.67M
OtherReceivables8.31M6.48M15.36M19.74M
AccountsReceivable29.79M27.12M24.71M26.93M
AllowanceForDoubtfulAccountsReceivable-4.70M-2.90M-1.50M-1.90M
GrossAccountsReceivable34.49M30.02M26.21M28.83M
CashCashEquivalentsAndShortTermInvestments233.52M412.12M908.35M339.75M
OtherShortTermInvestments0.00134.26M311.18M109.42M
CashAndCashEquivalents233.52M277.86M597.17M230.33M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-1.14B-1.52B-391.05M-352.33M
RepurchaseOfCapitalStock-4.29M-11.56M-14.04M-10.14M
RepaymentOfDebt-6.73M-6.22M-6.06M0.00
IssuanceOfDebt261.00M594.38M6.92M0.00
IssuanceOfCapitalStock212.74M977.03M778.43M304.85M
CapitalExpenditure-566.95M-1.27B-424.13M-352.86M
InterestPaidSupplementalData15.45M45.00K84.00K0.00
IncomeTaxPaidSupplementalData1.04M107.00K680.00K0.00
EndCashPosition309.79M351.30M597.17M230.33M
BeginningCashPosition351.30M597.17M230.33M312.31M
ChangesInCash-41.51M-245.87M366.84M-81.99M
FinancingCashFlow455.29M1.52B748.52M272.35M
CashFlowFromContinuingFinancingActivities455.29M1.52B748.52M272.35M
NetOtherFinancingCharges-7.43M-35.64M-16.73M-22.36M
ProceedsFromStockOptionExercised0.000.00806.00K
NetCommonStockIssuance208.45M965.47M764.39M294.71M
CommonStockPayments-4.29M-11.56M-14.04M-10.14M
CommonStockIssuance212.74M977.03M778.43M304.85M
NetIssuancePaymentsOfDebt254.27M588.16M861.00K0.00
NetShortTermDebtIssuance861.00K0.000.00
ShortTermDebtPayments-6.06M0.000.00
ShortTermDebtIssuance6.92M0.000.00
NetLongTermDebtIssuance254.27M588.16M861.00K0.00
LongTermDebtPayments-6.73M-6.22M-6.06M0.00
LongTermDebtIssuance261.00M594.38M6.92M0.00
InvestingCashFlow76.13M-1.51B-414.77M-354.86M
CashFlowFromContinuingInvestingActivities76.13M-1.51B-414.77M-354.86M
NetOtherInvestingChanges-5.31M-990.00K7.50M-3.81M
NetInvestmentPurchaseAndSale641.56M0.00-4.50M1.81M
SaleOfInvestment641.56M0.000.001.81M
PurchaseOfInvestment0.000.00-4.50M0.00
NetBusinessPurchaseAndSale0.00-254.62M0.000.00
PurchaseOfBusiness0.00-254.62M0.000.00
NetIntangiblesPurchaseAndSale0.000.00-34.00K-9.53M
SaleOfIntangibles295.00K
PurchaseOfIntangibles0.000.00-34.00K-9.53M
NetPPEPurchaseAndSale-560.12M-675.70M-417.73M-343.33M
SaleOfPPE6.83M14.32M6.37M0.00
PurchaseOfPPE-566.95M-690.02M-424.10M-343.33M
CapitalExpenditureReported0.00-577.50M0.000.00
OperatingCashFlow-572.93M-255.05M33.09M530.00K
CashFlowFromContinuingOperatingActivities-572.93M-255.05M33.09M530.00K
ChangeInWorkingCapital-6.41M21.72M-1.96M15.55M
ChangeInOtherWorkingCapital3.38M-7.39M
ChangeInOtherCurrentLiabilities24.09M13.88M-8.32M3.49M
ChangeInOtherCurrentAssets-30.50M7.84M6.35M12.06M
ChangeInPayablesAndAccruedExpense11.96M13.30M
ChangeInAccruedExpense13.55M16.07M
ChangeInPayable-1.59M-2.77M
ChangeInAccountPayable-1.59M-2.77M
ChangeInPrepaidAssets-25.52M-5.07M
ChangeInReceivables-21.41M-1.10M
ChangesInAccountReceivables-11.53M-4.45M
OtherNonCashItems-554.61M-307.66M-8.84M-55.73M
StockBasedCompensation125.71M125.20M32.17M24.55M
UnrealizedGainLossOnInvestmentSecurities115.88M-457.41M-184.73M0.00
AssetImpairmentCharge29.74M0.000.00538.56M
DeferredTax0.000.00-5.04M-11.75M
DeferredIncomeTax0.000.00-5.04M-11.75M
DepreciationAmortizationDepletion346.81M212.05M252.35M107.95M
DepreciationAndAmortization346.81M212.05M252.35M107.95M
Depreciation120.13M26.60M
OperatingGainsLosses33.13M41.64M-1.39M-109.05M
EarningsLossesFromEquityInvestments28.19M69.49M0.009.00M
GainLossOnInvestmentSecurities7.20M-45.28M-6.72M-101.76M
GainLossOnSaleOfPPE-2.27M17.43M5.34M-16.28M
GainLossOnSaleOfBusiness0.00
NetIncomeFromContinuingOperations-663.18M109.40M-49.47M-509.55M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for RIOT
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status