Demand and volumepositive · 5 filings
“There continues to be significant third-party demand for these products due to the increased interest in data center construction, as well as growing worldwide demand for power.”10-Q · Aug 10, 2026 ↗
Riot Platforms, Inc.
RIOT
Market read
Riot Platforms, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Company+2.5% todayVolume comparison unavailable
Market group0 of 26 activeHigh-Beta Risk-On · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- RIOT's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if RIOT's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- RIOT's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Brokerage and capital-markets earnings model
For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.
Key research questions
- Can client and activity growth offset pressure from lower rates or weaker trading volumes?
- Are customer balances, margin lending and credit conditions changing the risk profile?
- Does the valuation reflect a durable earnings model or unusually favorable market conditions?
Annual periods9
Price observations328
Usable filing statements152
Verified relationships10
Evidence supporting the case
- Latest annual revenue changed +71.9% year over year.
- Demand and volume has repeated favorable evidence across 5 filings.
- Data center and AI demand has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Operating margin changed -136.9 percentage points in the latest annual period.
- Net margin changed -131.5 percentage points in the latest annual period.
- Diluted shares increased 6.8% in the latest annual period.
Questions before a position
- EV/sales is 46% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
21.456m+47.9%12m+30.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$213.2M+1665.1%$-0.17—
2022-12-31$259.2M+21.5%$-3.65+49.2%
2023-12-31$280.7M+8.3%$-0.28+25.5%
2024-12-31$376.7M+34.2%$0.34—
2025-12-31$647.4M+71.9%$-1.95+6.8%
What management says matters
Persistent and emerging business drivers
Valuation discipline
Descriptive valuation snapshot
Price/sales 11.3× · EV/sales 11.8×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
21.45+2.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for RIOT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for RIOT. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind RIOT
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PWFiling-linked namesupplierApr 30, 2026 ▾
“The seller did not provide any financing nor did the Company borrow from a third-party to purchase the miners.”
AMDAdvanced Micro Devices, Inc.partnerMar 2, 2026 ▾
“Additionally, in January 2026, we announced the execution of a long-term data center lease agreement (the “AMD Lease”) with Advanced Micro Devices, Inc.”
Depended on by
IRENIREN LimitedpartnerAug 28, 2025 ▾
“Our self-constructed Peer Group Index consists of members of our peer group with available publicly traded market data as of, and subsequent to, November 16, 2021, and consists of: Bitdeer Technologies Group (BTDR), Bitfarms Ltd.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 12 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
RIOT is currently a Early Follower in the organic co-movement group High-Beta Risk-On. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.