Riot Platforms, Inc.

Overview

Riot Platforms, Inc. is a U.S. digital-infrastructure company whose core operations are Bitcoin mining and the development of power assets and data-center capacity for high-density computing. Its reported business segments are Bitcoin Mining and Engineering, with facilities in Texas and Kentucky and engineering and fabrication operations in Denver and Houston.[1]+2

The company’s stated mission is to empower digital infrastructure by positively impacting the sectors, networks, and communities it touches.[4] For the year ended December 31, 2025, Riot reported revenue of $647.4 million and approximately 816 employees.[5][6] [1]+5

Products & services

Riot Platforms’ products and services include Bitcoin self-mining, through which it operates computing equipment to contribute hash rate to the Bitcoin network and earns bitcoin block rewards and transaction fees. The 2025 block reward was 3.125 BTC, in addition to transaction fees.[7] Riot also began developing data-center leasing for high-density computing, including AI and high-performance computing workloads. A 2026 AMD lease at its Rockdale facility provided for an initial 25 MW of critical IT load, with expansion provisions that could bring the total to 200 MW.[8]+2

Its engineering offerings include low- and medium-voltage switchgear, power distribution centers, portable substations, and custom controls through ESS Metron, as well as electrical infrastructure and power-deployment services through E4A Solutions.[11] In fiscal 2025, Bitcoin Mining generated $576.276 million, approximately 89% of consolidated revenue, while Engineering generated $64.688 million, approximately 10%; the percentages are calculated from reported revenue figures.[12] Riot’s previous Bitcoin-mining hosting service had been discontinued following termination of its legacy hosting contracts.[13] [7]+10

Geographic presence

Riot Platforms’ disclosed operating footprint is in the United States, with mining facilities in Rockdale and Corsicana, Texas, and a Kentucky facility.[2][14] Its 2026 second-quarter filing continues to report operations at Rockdale, Corsicana, and Kentucky.[15] The 2025 filing lists its principal executive office in Castle Rock, Colorado, and also identifies corporate offices in Denver, Colorado, Engineering manufacturing facilities in Houston, Texas, and a Kentucky data center.[16][17] Riot’s website identifies its Kentucky location as Paducah.[18]

At December 31, 2025, Riot reported approximately 816 employees: about 63% in Texas, 31% in Colorado, and 3% in Kentucky.[19] The available disclosures do not provide revenue by country or region, geographic revenue percentages, or a territory-level sales breakdown.[20][21] [2]+8

Business segments

Riot Platforms reported three reportable segments in its second-quarter 2026 filing: Bitcoin Mining, Data Center, and Engineering. Its new Data Center operations became a reportable segment in Q2 2026; this is distinct from the legacy Data Center Hosting operation, which hosted customers’ bitcoin-mining activities and ceased to be separately reported in 2024.[22]+2

For the quarter ended June 30, 2026, Bitcoin Mining generated $113.736 million in external revenue, or approximately 65.3% of consolidated revenue, from bitcoin earned through mining. Data Center generated $23.213 million, or 13.3%, by developing and leasing data-center space and power capacity to third-party customers. Engineering generated $37.286 million, or 21.4%, from customer contracts for custom-engineered electrical products and services. These shares use consolidated quarterly revenue of $174.235 million; they exclude Engineering’s $8.884 million of intersegment revenue.[25][26]

For the six months ended June 30, 2026, segment shares of consolidated revenue were approximately 66.1% for Bitcoin Mining ($225.631 million), 16.5% for Data Center ($56.363 million), and 17.4% for Engineering ($59.460 million). The company’s chief operating decision-maker assesses segment performance using segment gross profit or loss.[27]+2 [22]+6

Company history

Riot Platforms was incorporated as AspenBio, Inc. in 2000 and, after intervening corporate-name changes, became Bioptix, Inc. in 2016. In 2017, the company entered Bitcoin mining, including an agreement to acquire 1,200 mining machines, and changed its name to Riot Blockchain, Inc.[29]+2 In 2021, it acquired Whinstone, establishing a large-scale Texas mining-facility platform, and ESS Metron, adding power-distribution equipment and engineering capabilities. Jason Les became chief executive officer in February 2021.[32]+3

In 2022, Riot began developing its Corsicana site in Texas, and changed its corporate name to Riot Platforms, Inc.[36][29] In 2024, it acquired Block Mining, expanding its operations into Kentucky.[37] In 2025, its Whinstone subsidiary acquired certain Rhodium assets at Rockdale and assumed associated power capacity as part of a settlement.[38] [29]+9

Sources

• Riot Platforms, Inc. — Full financial report (2025 Y)
  14 citations

  [1][2][7][12][13][14][16][17][19][20][21][29][35][38]
• Riot Platforms, Inc. — Press release (2025 Y)[3][5]
• www.riotplatforms.com[4]
• www.sec.gov[6]
• Riot Platforms, Inc. — Full financial report (2026 Q 2)
  11 citations

  [8][9][10][15][22][23][24][25][26][27][28]
• www.riotplatforms.com[11]
• www.riotplatforms.com[18]
• Riot Platforms, Inc. — Full financial report (2017 Y)[30][31]
• Riot Platforms, Inc. — Full financial report (2021 Y)
  3 citations

  [32][33][34]
• Riot Platforms, Inc. — Full financial report (2023 Y)[36]
• Riot Platforms, Inc. — Full financial report (2024 Y)[37]