secwatch.observer — SEC 8-K summary
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Issuer:     Riot Platforms, Inc. (RIOT)
CIK:        0001167419
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001558370-23-002678
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Riot Platforms restates financials due to Bitcoin impairment calculation error
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- Audit committee concluded 2021 annual and 2022/2021 quarterly financials should no longer be relied upon.
- Error: used daily spot price at cutoff time instead of intraday low for Bitcoin impairment testing under ASC 350.
- Company will amend Impacted Financials in its 2022 Form 10-K.
- Previously issued press releases and investor communications also should not be relied upon.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1167419/000155837023002678/0001558370-23-002678-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1167419/000155837023002678/riot-20230227x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-002678

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