Riot Platforms (NASDAQ:RIOT) (NASDAQ: RIOT) is a digital asset technology company primarily engaged in the production of Bitcoin through large-scale, high-performance mining operations. The company designs, builds, and operates data centers that host specialized mining hardware, and it pursues opportunities across the blockchain ecosystem to support network security and the transition to decentralized finance. Riot Platforms also evaluates emerging applications of distributed ledger technology and seeks to integrate complementary services that enhance its core mining business.
Originally incorporated in 2000 under a different name, the company underwent several strategic transformations over its history. In 2017, it shifted focus toward blockchain technology, adopting the name Riot Blockchain, Inc. to signal its entry into the digital currency arena. In mid-2022, the firm rebranded to Riot Platforms, Inc., reflecting an expanded vision that embraces a broader range of digital asset infrastructure solutions alongside its established Bitcoin mining activities.
Riot Platforms’ mining operations are concentrated in North America, with key facilities in Texas and other U.S. regions where it has secured access to cost-effective power and renewable energy sources. The company collaborates with grid operators and energy partners to optimize power usage and support sustainable practices. Its infrastructure includes modular data centers and immersion-cooling systems designed to improve energy efficiency and scale capacity as demand for network validation grows.
The company is led by President and Chief Executive Officer Jason Les, who brings extensive experience in operations management and technology commercialization. Under his leadership, Riot Platforms has focused on operational excellence, risk management, and growth strategies aimed at increasing hash rate capacity and advancing its digital asset infrastructure footprint. The board and senior management team continue to explore strategic partnerships and technology innovations to bolster the firm’s role in the rapidly evolving blockchain ecosystem.
