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Riot Platforms, Inc. logo

Riot Platforms, Inc.

RIOT

NASDAQFinancial ServicesFinancial - Capital Markets

Open in GoAI

Previous close

$19.83

−$1.15 · -5.48%

Aug 21, 4:00 PM ET

Pre-market

$19.67

−$0.16 · -0.81%

Aug 24, 4:15 AM ET

RIOT company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

43

Fair Value

Momentum

46

Neutral

Sentiment

46

Mixed

Risk resilience

22

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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Company profile

Company website

Riot Platforms, Inc., along with its associated companies, primarily operates as a Bitcoin mining enterprise within the United States. The firm's activities are divided into two main areas: Bitcoin Mining and Engineering. It develops and manages essential infrastructure for large-scale Bitcoin mining operations at sites in Rockdale and Navarro counties, Texas, as well as two facilities in Paducah, Kentucky. Beyond its mining endeavors, the company's Engineering division designs and manufactures specialized power distribution equipment and custom-engineered electrical solutions. This segment also provides comprehensive services for the design, production, and installation of electricity distribution products to a diverse client base, including major commercial organizations, government agencies, and customers in the data center, power generation, utility, water, industrial, and renewable energy sectors. Established in the year 2000, Riot Platforms is headquartered in Castle Rock, Colorado.

Industry
Financial - Capital Markets
Sector
Financial Services
Headquarters
US
CEO
Jason Les
Listed since
Mar 31, 2016
Employees
816

Market position

Day range

Current $19.83

52-week range

Current $19.83

Open
$21.65
Previous close
$20.98
Volume
27.43M
1.44× average
Average volume
19.06M
Average daily volume
Market cap
7.5B USD
Beta
3.85
Market reference 1
50-day average
$22.579
-12.18% below average
200-day average
$18.4719
+7.35% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-5.39×
P/B (TTM)
3.14×
P/S (TTM)
11.12×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
-13.76%
Operating margin
-89.12%
Net margin
-196.28%

Financial health

Debt / equity
0.13×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends87%-16%-120%-224%Gross margin, FY2021: 61.50%Gross margin, FY2022: 25.26%Gross margin, FY2023: 9.39%Gross margin, FY2024: 30.24%Gross margin, FY2025: -15.64%Operating margin, FY2021: -14.01%Operating margin, FY2022: -197.82%Operating margin, FY2023: -22.46%Operating margin, FY2024: 40.78%Operating margin, FY2025: -61.79%Net margin, FY2021: -7.24%Net margin, FY2022: -196.61%Net margin, FY2023: -17.63%Net margin, FY2024: 29.05%Net margin, FY2025: -102.43%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 61.50%. Gross margin FY2022 25.26%. Gross margin FY2023 9.39%. Gross margin FY2024 30.24%. Gross margin FY2025 -15.64%. Operating margin FY2021 -14.01%. Operating margin FY2022 -197.82%. Operating margin FY2023 -22.46%. Operating margin FY2024 40.78%. Operating margin FY2025 -61.79%. Net margin FY2021 -7.24%. Net margin FY2022 -196.61%. Net margin FY2023 -17.63%. Net margin FY2024 29.05%. Net margin FY2025 -102.43%.

Income trends

Revenue

647.44M USD+71.89%

Operating income

−400.03M USD−553.62M USD

Net income

−663.18M USD−772.58M USD
Income trends across reported periods778.5M USD254.25M USD−270M USD−794.24M USDRevenue, FY2021: 213.24M USDRevenue, FY2022: 259.17M USDRevenue, FY2023: 280.68M USDRevenue, FY2024: 376.66M USDRevenue, FY2025: 647.44M USDOperating income, FY2021: −29.87M USDOperating income, FY2022: −512.7M USDOperating income, FY2023: −63.05M USDOperating income, FY2024: 153.59M USDOperating income, FY2025: −400.03M USDNet income, FY2021: −15.44M USDNet income, FY2022: −509.55M USDNet income, FY2023: −49.47M USDNet income, FY2024: 109.4M USDNet income, FY2025: −663.18M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 213.24M USD. Revenue FY2022 259.17M USD. Revenue FY2023 280.68M USD. Revenue FY2024 376.66M USD. Revenue FY2025 647.44M USD. Operating income FY2021 −29.87M USD. Operating income FY2022 −512.7M USD. Operating income FY2023 −63.05M USD. Operating income FY2024 153.59M USD. Operating income FY2025 −400.03M USD. Net income FY2021 −15.44M USD. Net income FY2022 −509.55M USD. Net income FY2023 −49.47M USD. Net income FY2024 109.4M USD. Net income FY2025 −663.18M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue647.44M USD376.66M USD280.68M USD259.17M USD213.24M USD
Cost of goods sold748.69M USD262.76M USD254.33M USD193.7M USD82.09M USD
Gross profit−101.25M USD113.9M USD26.35M USD65.48M USD131.15M USD
Selling, general, and administrative298.48M USD266.92M USD100.35M USD67.45M USD87.43M USD
Operating expenses298.78M USD−39.69M USD89.39M USD578.18M USD161.02M USD
Interest income13.98M USD27.17M USD8.22M USD1.76M USD—
Interest expense24.14M USD1.99M USD—1.31M USD296K USD
Depreciation and amortization346.81M USD212.05M USD252.35M USD107.95M USD26.32M USD
Operating income−400.03M USD153.59M USD−63.05M USD−512.7M USD−29.87M USD
Net income−663.18M USD109.4M USD−49.47M USD−509.55M USD−15.44M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 6 misses, 0 met estimates
Average EPS surprise
-3.36%
11 comparable reports
Latest EPS result
-0.68
Estimate -0.3 · Miss by 124.22%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.78-0.23-1.23-2.24Q1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual 0.44, estimate -0.27, surprise +262.96%, Beat. Q2 2025, reported May 1, 2025: actual -0.9, estimate -0.25, surprise -260.00%, Miss. Q3 2025, reported Jul 31, 2025: actual 0.57, estimate -0.19, surprise +400.00%, Beat. Q4 2025, reported Oct 30, 2025: actual 0.26, estimate -0.19, surprise +236.84%, Beat. Q1 2026, reported Mar 2, 2026: actual -2.03, estimate -0.22, surprise -822.73%, Miss. Q2 2026, reported Apr 30, 2026: actual -1.44, estimate -0.33, surprise -336.36%, Miss. Q3 2026, reported Aug 10, 2026: actual -0.68, estimate -0.303, surprise -124.22%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate -0.31, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates187.44M166.06M144.68M123.3MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 24, 2025: actual 142.56M USD, estimate 139.11M USD, surprise +2.48%, Beat. Q2 2025, reported May 1, 2025: actual 161.39M USD, estimate 160.72M USD, surprise +0.41%, Beat. Q3 2025, reported Jul 31, 2025: actual 152.99M USD, estimate 168.1M USD, surprise -8.99%, Miss. Q4 2025, reported Oct 30, 2025: actual 180.23M USD, estimate 159.55M USD, surprise +12.96%, Beat. Q1 2026, reported Mar 2, 2026: actual 152.83M USD, estimate 159.93M USD, surprise -4.44%, Miss. Q2 2026, reported Apr 30, 2026: actual 167.22M USD, estimate 130.51M USD, surprise +28.12%, Beat. Q3 2026, reported Aug 10, 2026: actual 174.24M USD, estimate 154.31M USD, surprise +12.91%, Beat. Q4 2026, reported Oct 29, 2026: actual —, estimate 158.44M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$31.64

59.56% upside
Past 12 months12-month forecastHigh $40.00Average $31.64Low $24.00

Rating distribution

19 ratings
Strong buy00%
Buy1895%
Hold15%
Sell00%
Strong sell00%

RIOT news

benzinga.com

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.

Read source
247wallst.com

CleanSpark Sinks 6% Even as Bitcoin Jumps 7%, MARA Holds Flat as Traders Weigh Tensions Among AI Miners

A rare split is opening up inside the Bitcoin (CRYPTO:BTC) miner cohort on Friday, and it isn't about the coin.

Read source
reuters.com

Bitcoin, crypto shares climb after Trump pushes Clarity Act

Cryptocurrency and blockchain-related stocks surged in premarket trading on Thursday after U.S. President Donald Trump urged Congress to ​pass legislation establishing clear rules for the digital asset sector, ‌following…

Read source
investorplace.com

Don't Sell Your AI Stocks – Sort Them

The public's data-center revolt spreads

Read source
247wallst.com

MARA Holdings Falls 5%, Riot Platforms Sinks 4% as Rates Outweigh a 35,577 Bitcoin Treasury

MARA Holdings (NASDAQ:MARA | MARA Price Prediction) stock is falling 5% to $9.25 in Tuesday morning trading, extending a rough stretch for the largest publicly listed Bitcoin (CRYPTO:BTC) miners.

Read source
benzinga.com

Anthropic Paying 33% Above Market for AI Capacity, JPMorgan Says

The AI race may be driving a new pricing benchmark. JPMorgan estimates Anthropic agreed to pay roughly $2.4 per watt per year for capacity at Riot Platforms, Inc‘s (NASDAQ:RIOT) Texas data center — about 33% above the…

Read source

Corporate actions

Corporate action history

Stock split

Effective Mar 31, 2016

1:8

Stock split

Effective Jun 20, 2012

1:6

Stock split

Effective Jul 29, 2011

1:5

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