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RIOT

Riot Platforms, Inc.

RIOT

NASDAQ·Financial Services·Financial - Capital Markets·Mkt cap $9.1B

$21.88

-8.66%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$10.59 - $30.32

P/E

-8.86

Fwd P/E

-11.79

Beta

3.82

Div Yield

0.00%

Avg Vol

17.7M

Shares Out

379.1M

Mkt Cap

$9.1B

Price action

Price chart

Up 96.4% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

Bull Case

4 reasons

  • Large-scale institutional mining infrastructure with significant hash rate capacity
  • Strategic geographic diversification across Texas and Kentucky with access to competitive electricity
  • Integrated engineering capabilities providing operational efficiency and custom solutions
  • Established power distribution manufacturing business providing recurring revenue and operational synergies

Bear Case

1 risk

  • Very high volatility (beta 3.8). Expect 3x market swings. Position size accordingly.

Growth

Stable outlook

Expansion of Bitcoin mining capacity and hash rate production

Value

Deep value opportunity - significant discount to sector peers

Momentum

Hot

+86.3% over 3m

Quality

Loss-making

Solid business

Dividend

None

No dividend

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Apr 29, 2026

Q2 26 RECAP

APR 30, 2026

Reported EPS of -$1.44 vs -$0.33 consensus (-336.4% surprise). Revenue of $167.2M vs $130.5M expected (+28.1%).

EPS miss
Rev beat +28.1%

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-336.4%

Next: Apr 29, 2026

Revenue trend · last 8Q

+78%

+102%

+110%

+103%

+9%

+4%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$70.0M

$84.8M

$140.6M

$161.4M

$153.0M

$180.2M

$152.8M

$167.2M

Margins · last 8Q

Gross

-39.6%

Operating

-85.1%

Profit

-299.3%

Wall Street consensus

9 analysts · 100% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

9

100%

Hold

0%

Sell

0%

Median Price Target

$27.50

+25.7% vs $21.88

Low $25.00
Median $27.50
High $37.00

Latest: BTIG · Jun 24, 2026

3 analysts covering

vs Industry

How RIOT stacks vs Financial - Capital Markets

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.