---
schema_version: "secwatch.filing_event.v1"
accession: "0001167419-24-000001"
form_type: "8-K"
ticker: "RIOT"
cik: "0001167419"
company_name: "Riot Platforms, Inc."
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T16:44:53.120497+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Riot Platforms reports record FY2023 revenue of $280.7M, net loss narrows to $49.5M

## Summary
- Total revenue $280.7M (up 8% YoY); Bitcoin mining revenue $189.0M; produced 6,626 BTC (up 19%).
- Net loss $(49.5)M vs $(509.6)M in 2022; non-GAAP Adjusted EBITDA $214.0M including $184.7M Bitcoin fair-value gain.
- Cost to mine net of power credits averaged $7,539/BTC (down 33% YoY); power credits earned $71.2M.
- Hash rate capacity 12.4 EH/s as of Dec 31, 2023 (+28% YoY); targeting 28 EH/s by end-2024, 38 EH/s by end-2025.
- Ended 2023 with $597.2M cash, 7,362 BTC (~$311M at year-end), and nominal long-term debt.

## SEC filing metadata
- accession: 0001167419-24-000001
- form_type: 8-K
- ticker: RIOT
- cik: 0001167419
- company_name: Riot Platforms, Inc.
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1167419/000116741924000001/0001167419-24-000001-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1167419/000116741924000001/riot-20240222x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001167419-24-000001
- JSON: https://secwatch.observer/filing/0001167419-24-000001.json
- Plain text: https://secwatch.observer/filing/0001167419-24-000001.txt

## Key facts
- Earnings Releases
  Riot Platforms, Inc. reported the full year ended December 31, 2023 results: revenue $280.7 million, net income net loss of $49.5 million.
  - Period: the full year ended December 31, 2023
  - Revenue: $280.7 million
  - Net income: net loss of $49.5 million
  - Result: reported results
  source text: Riot Reports Record Results, with $280.7 Million in Total Revenue, 6,626 Bitcoin Produced, and Record Hash Rate Capacity of 12.4 EH/s
  evidence_url: https://www.sec.gov/Archives/edgar/data/1167419/000116741924000001/0001167419-24-000001-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.