Riot Platforms Files 8-K for FY 2023 Financials

TL;DR

Riot Platforms dropped its 2023 8-K, check the financials and warrant activity.

AI Summary

Riot Platforms, Inc. filed an 8-K on August 9, 2024, reporting on its financial statements and exhibits for the period ending December 31, 2023. The filing includes information related to stock warrants, private placement transactions, and other corporate events. Riot Platforms, formerly known as Riot Blockchain, Inc., is incorporated in Nevada and operates in the finance services sector.

Why It Matters

This filing provides crucial financial details and corporate actions for Riot Platforms, offering investors insight into the company's performance and strategic moves during the 2023 fiscal year.

Risk Assessment

Risk Level: medium — The filing contains details about financial transactions and corporate events that could impact the company's stock value, requiring careful investor review.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for financial statements)
• 20240809 — Filing Date (Date the 8-K was submitted)

Key Players & Entities

• Riot Platforms, Inc. (company) — Filer
• Riot Blockchain, Inc. (company) — Former company name
• Bioptix, Inc. (company) — Former company name
• Venaxis, Inc. (company) — Former company name
• 0001558370-24-011760 (filing_id) — Accession Number

FAQ

Filing Documents

• riot-20231231x8k.htm (8-K) — 248KB
• riot-20231231xex23d1.htm (EX-23.1) — 3KB
• riot-20231231xex23d2.htm (EX-23.2) — 4KB
• riot-20231231xex99d1.htm (EX-99.1) — 2587KB
• riot-20231231xex99d2.htm (EX-99.2) — 1162KB
• 0001558370-24-011760.txt ( ) — 16106KB
• riot-20231231.xsd (EX-101.SCH) — 129KB
• riot-20231231_cal.xml (EX-101.CAL) — 112KB
• riot-20231231_def.xml (EX-101.DEF) — 447KB
• riot-20231231_lab.xml (EX-101.LAB) — 795KB
• riot-20231231_pre.xml (EX-101.PRE) — 738KB
• riot-20231231x8k_htm.xml (XML) — 3068KB

01 – Other Events

Item 8.01 – Other Events. Riot Platforms, Inc. (together with its consolidated subsidiaries, " Riot ) is filing this Current Report on Form 8-K (this " Current Report ") to recast certain historical financial information and related disclosures contained in the Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission (" SEC ") on February 23, 2024 (the " 2023 Form 10-K "), and in the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, as filed with the SEC on May 1, 2024 (the " Q1 2024 Form 10-Q " and, together with the 2023 Form 10-K, the " Prior Reports "), to reflect the elimination of its prior data center hosting reportable segment (the " Data Center Hosting Segment ") effective as of January 1, 2024. Exhibits 99.1 and 99.2 under Item 9.01 of this Current Report recast certain financial information and related disclosures contained in the 2024 Form 10-K and the Q1 2024 Form 10-Q, respectively, to reflect the recognition of the data center hosting activity within "Other" in all segment-related disclosures. The Data Center Hosting Segment was eliminated following the termination of all contracts with the Company's data center hosting and colocation customers as of January 1, 2024, resulting in the operating segment no longer meeting the quantitative requirements as a reportable business segment and the Company ceasing to analyze the performance of the former Data Center Hosting Segment operations. The Company has no plans to offer data center hosting services to new customers. As a result of this change in the Company's reportable segments, the activities of the prior Data Center Hosting Segment are recognized in Revenue: Other and Cost of Revenue: Other in Exhibits 99.1 and 99.2 to this Current Report to reflect the recognition of such activities in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, as filed with the SEC on July 31, 20

, Item 1. Business

Part I, Item 1. Business

, Item 2. Properties

Part I, Item 2. Properties

, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

, Item 8. Financial Statements and Supplementary Data

Part II, Item 8. Financial Statements and Supplementary Data Elimination of the Data Center Hosting Segment did not impact the Company's consolidated statements of income, balance sheets, statements of cash flows, and statements of comprehensive income and shareholders' equity, as reported in the 2023 Form 10-K; and the Company's previously reported consolidated financial statements have not been updated to reflect any financial results or other changes subsequent to the filing of the 2023 Form 10-K. Q1 2024 Form 10-Q In Exhibit 99.2 filed with this Current Report and incorporated by reference herein, Riot has revised the following portions of the Q1 2024 Form 10-Q to reflect the elimination of its Data Center Hosting Segment and, where applicable, changes to its two remaining reportable segments:

, Item 1. Financial Statements (Unaudited)

Part I, Item 1. Financial Statements (Unaudited)

, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Elimination of the Data Center Hosting Segment did not impact the Company's consolidated statements of income, balance sheets, statements of cash flows, and statements of comprehensive income and shareholders' equity (each, unaudited), as reported in the Q1 2024 Form 10-Q; and the Company's previously reported (unaudited) consolidated financial statements have not been updated to reflect any financial results or other changes subsequent to the filing of the Q1 2024 Form 10-Q. By virtue of this Current Report, Riot will be able to incorporate the updated information by reference into filings with the SEC, including registration statements filed under the Securities Act of 1933, as amended (the " Securities Act "). This Current Report, including Exhibits 99.1 and 99.2 attached hereto and incorporated by reference herein, should be read in conjunction with the Prior Reports and the other filings the Company makes with the SEC, including the Q2 2024 Form 10-Q. Such filings contain important information regarding events, risks, uncertainties, developments, and updates affecting the Company and its expectations that have occurred since the filing of the Prior Reports. Except as specifically set forth herein as required to reflect the historical results of the Data Center Hosting Segment as eliminated and the corresponding changes in the Company's reporting structure, neither this Current Report nor Exhibits 99.1 and 99.2 hereto update or purport to update any information, developments, transactions, risks or any other known trends, events or uncertainties that have arisen since the filing of the Prior Reports or which are otherwise known to management. More current information regarding events subsequent to the Company's filing of the Prior Reports is contained in the Company's subsequent filings with the SEC, including the Q2 2024 Form 10-Q. The information contai

01 – Financial Statements and Exhibits

Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX The following exhibits are filed or furnished herewith: Exhibit No. Description 23.1 Consent of Deloitte & Touche LLP . 23.2 Consent of Marcum LLP. 99.1 As recast, Part I, Item 1. Business; Part I, Item 2. Properties; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and Part II, Item 8. Financial Statements and Supplementary Data, of Riot's Annual Report on Form 10-K for the year ended December 31, 2024. 99.2 As recast, Part I, Item 1. Financial Statements (Unaudited) and Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, of Riot's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) S I G N A T U R E Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RIOT PLATFORMS, INC. By: /s/ Colin Yee Name: Colin Yee Title: Chief Financial Officer Date: August 9, 2024

View Full Filing

View this 8-K filing on SEC EDGAR