RIOT Chart
About

Riot Platforms, Inc., together with its subsidiaries, operates as a Bitcoin mining company in the United States. The company operates in two segments, Bitcoin Mining and Engineering. It offers comprehensive and critical infrastructure for institutional-scale Bitcoin mining facilities in Rockdale and Navarro counties, Texas; and two Bitcoin mining sites in Paducah, Kentucky. The company also designs and manufactures power distribution equipment and custom engineered electrical products; and electricity distribution product design, manufacturing, and installation services for large-scale commercial 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 5.45B
Enterprise Value 5.99B Income 164.00M Sales 637.16M
Book/sh 9.44 Cash/sh 0.89 Dividend Yield —
Payout 0.00% Employees 783 IPO —
P/E 29.30 Forward P/E -368.37 PEG —
P/S 8.55 P/B 1.55 P/C —
EV/EBITDA 11.77 EV/Sales 9.40 Quick Ratio 1.00
Current Ratio 1.47 Debt/Eq 24.88 LT Debt/Eq —
EPS (ttm) 0.50 EPS next Y -0.04 EPS Growth —
Revenue Growth 112.60% Earnings 2026-02-24 ROA 3.08%
ROE 5.24% ROIC — Gross Margin 39.55%
Oper. Margin 28.36% Profit Margin 25.74% Shs Outstand 371.81M
Shs Float 340.96M Short Float 13.31% Short Ratio 2.46
Short Interest — 52W High 23.93 52W Low 6.19
Beta 3.59 Avg Volume 18.30M Volume 15.62M
Target Price $26.89 Recom Strong_buy Prev Close $15.22
Price $14.65 Change -3.75%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$26.89
Mean price target
2. Current target
$14.65
Latest analyst target
3. DCF / Fair value
$3.90
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.65
Low
$13.92
High
$42.00
Mean
$26.89

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
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
2025-09-26 up Citigroup Neutral → Buy $24
2025-09-26 up JP Morgan Neutral → Overweight $19
2025-09-25 main Roth Capital Buy → Buy $42
2025-09-24 init Arete Research — → Buy $26
2025-08-06 main Cantor Fitzgerald Overweight → Overweight $24
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 Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems2.81M17.93M-9.69M-7.43M
TaxRateForCalcs0.010.090.020.27
NormalizedEBITDA-91.30M8.55M18.08M38.96M
TotalUnusualItems415.48M192.09M-430.12M-27.52M
TotalUnusualItemsExcludingGoodwill415.48M192.09M-430.12M-27.52M
NetIncomeFromContinuingOperationNetMinorityInterest109.40M-49.47M-509.55M-15.44M
ReconciledDepreciation212.05M252.35M107.95M26.32M
ReconciledCostOfRevenue262.75M254.33M193.70M82.09M
EBITDA324.18M200.64M-412.04M11.44M
EBIT112.13M-51.71M-519.99M-14.89M
NetInterestIncome25.18M8.22M454.00K-296.00K
InterestExpense1.99M2.85M1.31M296.00K
InterestIncome27.17M11.08M1.76M0.00
NormalizedIncome-303.27M-223.64M-89.13M4.65M
NetIncomeFromContinuingAndDiscontinuedOperation109.40M-49.47M-509.55M-15.44M
TotalExpenses708.04M535.82M341.75M189.33M
TotalOperatingIncomeAsReported153.59M-63.05M-512.70M-29.87M
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
DilutedNIAvailtoComStockholders109.40M-49.47M-509.55M-15.44M
NetIncomeCommonStockholders109.40M-49.47M-509.55M-15.44M
NetIncome109.40M-49.47M-509.55M-15.44M
MinorityInterests0.000.00
NetIncomeIncludingNoncontrollingInterests109.40M-49.47M-509.55M-15.44M
NetIncomeContinuousOperations109.40M-49.47M-509.55M-15.44M
TaxProvision744.00K-5.09M-11.75M254.00K
PretaxIncome110.14M-54.56M-521.30M-15.18M
OtherIncomeExpense416.34M192.35M-439.17M-38.80M
OtherNonOperatingIncomeExpenses863.00K260.00K-59.00K2.38M
SpecialIncomeCharges-17.72M638.00K-531.88M-66.15M
GainOnSaleOfPPE-17.43M-5.34M16.28M0.00
GainOnSaleOfBusiness0.00
OtherSpecialCharges-2.79M-5.97M9.69M
WriteOff0.000.00147.37M43.97M
ImpairmentOfCapitalAssets0.000.00391.19M0.00
RestructuringAndMergernAcquisition3.08M0.00-81.00K22.17M
EarningsFromEquityInterest-9.00M
GainOnSaleOfSecurity433.20M191.46M101.76M38.62M
NetNonOperatingInterestIncomeExpense25.18M8.22M454.00K-296.00K
InterestExpenseNonOperating1.99M2.85M1.31M296.00K
InterestIncomeNonOperating27.17M11.08M1.76M0.00
OperatingIncome-331.38M-255.14M-82.58M23.91M
OperatingExpense445.28M281.49M148.06M107.24M
OtherOperatingExpenses-33.69M-71.22M-27.34M-6.51M
DepreciationAmortizationDepletionIncomeStatement212.05M252.35M107.95M26.32M
DepreciationAndAmortizationInIncomeStatement212.05M252.35M107.95M26.32M
SellingGeneralAndAdministration266.92M100.35M67.45M87.43M
GrossProfit113.90M26.34M65.47M131.15M
CostOfRevenue262.75M254.33M193.70M82.09M
TotalRevenue376.66M280.68M259.17M213.24M
OperatingRevenue359.49M253.30M222.21M213.15M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber344.89M230.84M167.75M116.75M
ShareIssued344.89M230.84M167.75M116.75M
NetDebt306.76M
TotalDebt613.16M22.13M22.25M13.44M
TangibleBookValue2.98B1.86B1.12B998.63M
InvestedCapital3.73B1.89B1.15B1.35B
WorkingCapital439.09M887.56M321.84M454.71M
NetTangibleAssets2.98B1.86B1.12B998.64M
CapitalLeaseObligations28.54M21.34M22.25M13.44M
CommonStockEquity3.14B1.89B1.15B1.35B
PreferredStockEquity11.00K
TotalCapitalization3.73B1.89B1.15B1.35B
TotalEquityGrossMinorityInterest3.14B1.89B1.15B1.35B
MinorityInterest0.00
StockholdersEquity3.14B1.89B1.15B1.35B
GainsLossesNotAffectingRetainedEarnings222.00K150.00K0.00
OtherEquityAdjustments222.00K150.00K
RetainedEarnings-690.42M-799.82M-756.34M-246.79M
CapitalStock3.83B2.69B1.91B1.60B
CommonStock3.83B2.69B1.91B1.60B
PreferredStock0.000.000.0011.00K
TotalLiabilitiesNetMinorityInterest791.62M163.06M168.52M173.62M
TotalNonCurrentLiabilitiesNetMinorityInterest631.24M42.04M46.98M63.74M
OtherNonCurrentLiabilities6.19M6.15M8.23M6.24M
DerivativeProductLiabilities3.23M638.00K638.00K25.45M
NonCurrentDeferredLiabilities13.59M15.80M17.87M19.80M
NonCurrentDeferredRevenue13.59M15.80M17.87M19.80M
LongTermDebtAndCapitalLeaseObligation608.23M19.45M20.24M12.26M
LongTermCapitalLeaseObligation23.91M18.92M20.24M12.26M
LongTermDebt584.31M526.00K
CurrentLiabilities160.38M121.02M121.54M109.88M
OtherCurrentLiabilities23.63M271.00K24.30M58.48M
CurrentDeferredLiabilities38.54M32.54M11.33M8.11M
CurrentDeferredRevenue12.54M6.53M11.33M8.11M
CurrentDebtAndCapitalLeaseObligation4.93M2.68M2.01M1.18M
CurrentCapitalLeaseObligation4.62M2.42M2.01M1.18M
CurrentDebt314.00K257.00K
OtherCurrentBorrowings314.00K257.00K
PensionandOtherPostRetirementBenefitPlansCurrent21.22M14.89M8.58M5.74M
PayablesAndAccruedExpenses72.06M70.64M75.33M36.37M
CurrentAccruedExpenses54.45M47.48M56.88M16.33M
Payables17.61M23.16M18.45M20.04M
AccountsPayable17.61M23.16M18.45M20.04M
TotalAssets3.94B2.05B1.32B1.52B
TotalNonCurrentAssets3.34B1.04B876.58M957.40M
OtherNonCurrentAssets18.96M13.12M310.00K310.00K
NonCurrentPrepaidAssets30.11M215.01M42.43M266.17M
FinancialAssets110.06M74.08M98.14M51.53M
InvestmentsAndAdvances1.65B0.00310.00K
InvestmentinFinancialAssets1.65B0.00
AvailableForSaleSecurities1.65B
GoodwillAndOtherIntangibleAssets166.84M26.02M31.64M349.73M
OtherIntangibleAssets44.96M26.02M31.64M14.16M
Goodwill121.89M0.000.00335.56M
NetPPE1.36B714.29M704.06M289.67M
AccumulatedDepreciation-446.27M-359.44M-122.18M-30.47M
GrossPPE1.80B1.07B826.24M320.14M
ConstructionInProgress82.97M166.97M97.23M113.60M
OtherProperties955.36M516.64M463.00M101.11M
MachineryFurnitureEquipment47.46M41.25M36.33M16.62M
BuildingsAndImprovements715.86M348.87M229.69M88.81M
Properties0.000.000.000.00
CurrentAssets599.48M1.01B443.38M564.59M
OtherCurrentAssets40.29M29.11M32.66M7.13M
HedgingAssetsCurrent40.02M31.05M24.30M58.48M
RestrictedCash73.44M0.00
PrepaidAssets7.13M
Receivables33.60M40.06M46.67M25.26M
OtherReceivables6.48M15.36M19.74M9.86M
AccountsReceivable27.12M24.71M26.93M15.40M
AllowanceForDoubtfulAccountsReceivable-2.90M-1.50M-1.90M
GrossAccountsReceivable30.02M26.21M28.83M
CashCashEquivalentsAndShortTermInvestments412.12M908.35M339.75M473.71M
OtherShortTermInvestments134.26M311.18M109.42M161.40M
CashAndCashEquivalents277.86M597.17M230.33M312.31M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-1.52B-391.05M-352.33M-508.06M
RepurchaseOfCapitalStock-11.56M-14.04M-10.14M-5.08M
RepaymentOfDebt-6.22M-6.06M0.000.00
IssuanceOfDebt594.38M6.92M0.000.00
IssuanceOfCapitalStock977.03M778.43M304.85M684.82M
CapitalExpenditure-1.27B-424.13M-352.86M-421.98M
InterestPaidSupplementalData45.00K84.00K0.000.00
IncomeTaxPaidSupplementalData107.00K680.00K0.000.00
EndCashPosition351.30M597.17M230.33M312.31M
BeginningCashPosition597.17M230.33M312.31M223.38M
ChangesInCash-245.87M366.84M-81.99M88.93M
FinancingCashFlow1.52B748.52M272.35M665.64M
CashFlowFromContinuingFinancingActivities1.52B748.52M272.35M665.64M
NetOtherFinancingCharges-35.64M-16.73M-22.36M-14.90M
ProceedsFromStockOptionExercised0.000.00806.00K
NetCommonStockIssuance965.47M764.39M294.71M679.74M
CommonStockPayments-11.56M-14.04M-10.14M-5.08M
CommonStockIssuance977.03M778.43M304.85M684.82M
NetIssuancePaymentsOfDebt588.16M861.00K0.000.00
NetShortTermDebtIssuance861.00K0.000.00
ShortTermDebtPayments-6.06M0.000.00
ShortTermDebtIssuance6.92M0.000.00
NetLongTermDebtIssuance588.16M861.00K0.000.00
LongTermDebtPayments-6.22M-6.06M0.000.00
LongTermDebtIssuance594.38M6.92M0.000.00
InvestingCashFlow-1.51B-414.77M-354.86M-490.62M
CashFlowFromContinuingInvestingActivities-1.51B-414.77M-354.86M-490.62M
NetOtherInvestingChanges-990.00K7.50M-3.81M
NetInvestmentPurchaseAndSale0.00-4.50M1.81M1.80M
SaleOfInvestment0.000.001.81M1.80M
PurchaseOfInvestment0.00-4.50M0.000.00
NetBusinessPurchaseAndSale-254.62M0.000.00-70.45M
PurchaseOfBusiness-254.62M0.000.00-70.45M
NetIntangiblesPurchaseAndSale0.00-34.00K-9.53M-30.00K
SaleOfIntangibles295.00K
PurchaseOfIntangibles0.00-34.00K-9.53M-30.00K
NetPPEPurchaseAndSale-675.70M-417.73M-343.33M-421.95M
SaleOfPPE14.32M6.37M0.000.00
PurchaseOfPPE-690.02M-424.10M-343.33M-421.95M
CapitalExpenditureReported-577.50M0.000.00
OperatingCashFlow-255.05M33.09M530.00K-86.08M
CashFlowFromContinuingOperatingActivities-255.05M33.09M530.00K-86.08M
ChangeInWorkingCapital21.72M-1.96M15.55M-2.90M
ChangeInOtherWorkingCapital3.38M-7.39M
ChangeInOtherCurrentLiabilities13.88M-8.32M3.49M4.25M
ChangeInOtherCurrentAssets7.84M6.35M12.06M-7.15M
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-307.66M-8.84M-55.73M-182.97M
StockBasedCompensation125.20M32.17M24.55M68.49M
UnrealizedGainLossOnInvestmentSecurities-457.41M-184.73M0.0013.65M
AssetImpairmentCharge0.000.00538.56M43.97M
DeferredTax0.00-5.04M-11.75M254.00K
DeferredIncomeTax0.00-5.04M-11.75M254.00K
DepreciationAmortizationDepletion212.05M252.35M107.95M26.32M
DepreciationAndAmortization212.05M252.35M107.95M26.32M
Depreciation120.13M26.60M
OperatingGainsLosses41.64M-1.39M-109.05M-37.47M
EarningsLossesFromEquityInvestments69.49M0.009.00M
GainLossOnInvestmentSecurities-45.28M-6.72M-101.76M-37.47M
GainLossOnSaleOfPPE17.43M5.34M-16.28M0.00
GainLossOnSaleOfBusiness0.00
NetIncomeFromContinuingOperations109.40M-49.47M-509.55M-15.44M
SEC Filings

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

Public Trades for RIOT
Date User Asset Broker Type Position Size Entry Price Patterns