Organization and Description of Business	9 Months Ended
Sep. 30, 2026
Organization and Description of Business
Organization and Description of Business	Note 1. Organization and Description of Business Riot Platforms, Inc. is a vertically integrated digital infrastructure company principally engaged in developing and optimizing its large-scale power assets. The Company’s business strategy centers on enhancing its electrical infrastructure and deploying it across complementary platforms: (i) bitcoin mining and (ii) scalable data center solutions designed to support non-mining workloads. By leveraging its energy portfolio, engineering capabilities, and operational footprint, the Company aims to capitalize on the accelerating demand for power-intensive compute, supported by capital raised through bitcoin production and sales. The Company owns and manages multiple large-scale data center facilities in Texas and Kentucky. The Company provides mission-critical power and infrastructure for Bitcoin Mining at its facilities in Rockdale, Texas (the “Rockdale Facility”), Navarro County, Texas (the “Corsicana Facility”), and its two sites in Kentucky (the “Kentucky Facility,” and together with the Rockdale Facility and the Corsicana Facility, the “Facilities”), and for non-mining Data Center operations at the Rockdale Facility and the Corsicana Facility. The Rockdale Facility currently provides up to approximately 700 megawatts (“MW”) of developed capacity for Bitcoin Mining and data center leasing. The Corsicana Facility is currently equipped to provide up to approximately 400 MW of developed capacity for Bitcoin Mining, and upon completion, is expected to have a total of approximately 1 gigawatt (“GW”) of developed capacity available for high-density compute workloads. The Kentucky Facility currently provides approximately 232 MW of developed capacity. On October 28, 2026, Riot Corsicana, LLC (“Riot Corsicana”), a wholly owned subsidiary of the Company, entered into a long-term powered land lease agreement (the “Corsicana Lease”) with Anthropic PBC (the “Frontier AI Lab”) to provide critical IT load capacity at the Company’s Corsicana Facility. The Corsicana Lease became effective on November 4, 2026. See Note 3. Data Center Operations. In 2025, the Company began leveraging its core competencies in power optimization, strategic land acquisition, engineering design, and construction execution to develop and monetize portions of its existing facilities and power pipeline through the provision of data center leasing services. During the nine months ended September 30, 2026, the Company entered into long-term data center lease agreements at the Rockdale Facility with Advanced Micro Devices, Inc. (“AMD”) for the deployment of 50 MW of critical IT load capacity (the “AMD Lease”), with the potential for additional expansion of up to a total of 200 MW of critical IT load capacity, and with the Frontier AI Lab for the deployment of 191 MW of critical IT load capacity (the “Rockdale Lease”). See Note 3. Data Center Operations. As described in Note 18. Segment Information, the Company operates in three reportable business segments: Bitcoin Mining, Data Center, and Engineering.

Organization and Description of Business

9 Months Ended

Sep. 30, 2026

Organization and Description of Business

Organization and Description of Business

Note 1. Organization and Description of Business

Riot Platforms, Inc. is a vertically integrated digital infrastructure company principally engaged in developing and optimizing its large-scale power assets. The Company’s business strategy centers on enhancing its electrical infrastructure and deploying it across complementary platforms: (i) bitcoin mining and (ii) scalable data center solutions designed to support non-mining workloads. By leveraging its energy portfolio, engineering capabilities, and operational footprint, the Company aims to capitalize on the accelerating demand for power-intensive compute, supported by capital raised through bitcoin production and sales.

The Company owns and manages multiple large-scale data center facilities in Texas and Kentucky. The Company provides mission-critical power and infrastructure for Bitcoin Mining at its facilities in Rockdale, Texas (the “Rockdale Facility”), Navarro County, Texas (the “Corsicana Facility”), and its two sites in Kentucky (the “Kentucky Facility,” and together with the Rockdale Facility and the Corsicana Facility, the “Facilities”), and for non-mining Data Center operations at the Rockdale Facility and the Corsicana Facility. The Rockdale Facility currently provides up to approximately 700 megawatts (“MW”) of developed capacity for Bitcoin Mining and data center leasing. The Corsicana Facility is currently equipped to provide up to approximately 400 MW of developed capacity for Bitcoin Mining, and upon completion, is expected to have a total of approximately 1 gigawatt (“GW”) of developed capacity available for high-density compute workloads. The Kentucky Facility currently provides approximately 232 MW of developed capacity.

On October 28, 2026, Riot Corsicana, LLC (“Riot Corsicana”), a wholly owned subsidiary of the Company, entered into a long-term powered land lease agreement (the “Corsicana Lease”) with Anthropic PBC (the “Frontier AI Lab”) to provide critical IT load capacity at the Company’s Corsicana Facility. The Corsicana Lease became effective on November 4, 2026. See Note 3. Data Center Operations.

In 2025, the Company began leveraging its core competencies in power optimization, strategic land acquisition, engineering design, and construction execution to develop and monetize portions of its existing facilities and power pipeline through the provision of data center leasing services. During the nine months ended September 30, 2026, the Company entered into long-term data center lease agreements at the Rockdale Facility with Advanced Micro Devices, Inc. (“AMD”) for the deployment of 50 MW of critical IT load capacity (the “AMD Lease”), with the potential for additional expansion of up to a total of 200 MW of critical IT load capacity, and with the Frontier AI Lab for the deployment of 191 MW of critical IT load capacity (the “Rockdale Lease”). See Note 3. Data Center Operations.

As described in Note 18. Segment Information, the Company operates in three reportable business segments: Bitcoin Mining, Data Center, and Engineering.