Annual report pursuant to Section 13 and 15(d)

Restatement of Previously Issued Interim Condensed Consolidated Financial Statements - Restated Condensed Consolidated Statements of Operations (Details)

v3.22.4
Restatement of Previously Issued Interim Condensed Consolidated Financial Statements - Restated Condensed Consolidated Statements of Operations (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:                          
Total revenue $ 46,290 $ 72,947 $ 79,787 $ 64,808 $ 34,348 $ 23,197 $ 152,734 $ 57,545 $ 199,024 $ 122,353 $ 259,171 $ 213,243 $ 12,081
Costs and expenses:                          
Acquisition-related costs       552 17,032   78 18,342 78 18,894 78 21,198
Selling, general and administrative 16,004 10,713 10,910 40,307 3,512 5,462 21,545 7,664 37,549 47,971 67,452 87,429 10,251
Depreciation and amortization 26,559 20,562 14,245 12,207 5,738 2,846 34,807 8,584 61,366 20,791 107,950 26,324 4,494
Change in fair value of derivative asset 17,749 (60,931) (46,235) (7,413) (16,393)   (104,614) (16,393) (86,865) (23,806) (71,418) (12,112)
Power curtailment credits (13,070) (5,706)   (2,507) (1,143)   (8,258) (1,143) (21,328) (3,650) (27,345) (6,514)
Change in fair value of contingent consideration     176 259 185   176 185 176 444 (159) 975
Realized gain on sale/exchange of Bitcoin (3,109) (15,260) (9,665) (65) (29)   (24,925) (29) (28,034) (94) (30,346) (253) (6,350)
Gain on exchange of equipment (7,667) (8,614)         (8,614)   (16,281)   (16,281) (29)
Impairment of Bitcoin 3,021 101,419 25,870 6,692 17,835 2,374 127,289 20,209 130,310 26,901 147,365 43,973 3,595
Impairment of goodwill   335,648         335,648   335,648   335,648
Impairment of long-term investment                     9,413
Total costs and expenses 82,167 426,185 40,929 75,647 39,798 18,216 467,114 58,014 549,281 133,661 771,872 243,113 27,625
Operating income (loss) (35,877) (353,238) 38,858 (10,839) (5,450) 4,981 (314,380) (469) (350,257) (11,308) (512,701) (29,870) (15,544)
Other income (expense):                          
Interest income (expense) 348   (357) 40 80 175 (357) 255 (9) 295 454 (296) 85
Realized loss on sale of marketable equity securities   (1,624)         (1,624)   (1,624)   (8,996)
Realized gain on sale/exchange of long-term investment         26,260     26,260   26,260 26,260
Unrealized loss on marketable equity securities 142 (4,837) (1,611) (11,151) 339   (6,448) 339 (6,306) (10,812) (13,655)
Other income (expense)   (59)   (85) 1,510   (59) 1,510 (59) 1,425 (59) 2,378 (6)
Gain on sale of equipment 7,667 8,614         8,614   16,281   16,281 29
Total other income (expense) 490 (6,520) (1,968) (11,196) 28,189   (8,488) 28,364 (7,998) 17,168 (8,601) 14,687 1,437
Net income (loss) before taxes (35,387) (359,758) 36,890 (22,035) 22,739 5,156 (322,868) 27,895 (358,255) 5,860 (521,302) (15,183) (14,107)
Current income tax benefit (expense) 89 427 312       739   828   789 254
Deferred income tax benefit (expense) (3,041) (6,626)     3,730   (6,626) 3,730 (9,667) 3,730 (12,538)
Total income tax benefit (expense) 2,952 6,199 (312)   (3,730)   5,887 (3,730) 8,839 (3,730) 11,749 (254)
Net income (loss)     (36,578)     (5,156) 316,981 (24,165) 349,640 (2,130) 509,553 15,437 14,107
Net (income) loss attributable to non-controlling interest                     (7)
Net income (loss) attributable to Riot Platforms, Inc. $ (32,435) $ (353,559) $ 36,578 $ (22,035) $ 19,009 $ 5,156 $ (316,981) $ 24,165 $ (349,416) $ 2,130 $ (509,553) $ (15,437) $ (14,114)
Basic net income (loss) per share (in Dollars per share) $ (0.21) $ (2.71) $ 0.31 $ (0.23) $ 0.21 $ 0.06 $ (2.56) $ 0.28 $ (2.61) $ 0.02 $ (3.65) $ (0.17) $ (0.34)
Diluted net income (loss) per share (in Dollars per share) $ (0.21) $ (2.71) $ 0.31 $ (0.23) $ 0.21 $ 0.06 $ (2.56) $ 0.28 $ (2.61) $ 0.02 $ (3.66) $ (0.17) $ (0.33)
Basic weighted average number of shares outstanding (in Shares) 153,895,123 130,405,502 117,042,347 96,064,036 88,681,338 83,163,400 123,760,839 85,937,612 133,894,338 89,350,180 139,433,901 93,452,764 41,976,704
Diluted weighted average number of shares outstanding (in Shares) 153,895,123 130,405,502 117,042,347 96,064,036 89,241,044 83,712,151 123,760,839 86,501,471 133,894,338 89,896,374 139,433,901 93,452,764 41,976,704
Bitcoin Mining                          
Revenue:                          
Total revenue $ 22,070 $ 46,151 $ 57,945 $ 53,590 $ 31,450 $ 23,173 $ 104,096 $ 54,623 $ 126,166 $ 108,213 $ 156,870 $ 184,422 $ 11,984
Costs and expenses:                          
Cost of revenues 14,677 17,995 19,094 13,034 9,325 7,534 37,089 16,859 51,766 29,893 74,335 45,513 6,251
Data Center Hosting                          
Revenue:                          
Total revenue 8,371 9,834 9,694 11,193 2,874   19,528 2,874 27,899 14,067 36,862 24,546
Costs and expenses:                          
Cost of revenues 14,223 15,184 14,985 12,581 3,736   30,169 3,736 44,392 16,317 61,906 32,998
Engineering                          
Revenue:                          
Total revenue 15,824 16,938 12,124       29,062   44,886   65,342 4,178
Costs and expenses:                          
Cost of revenues 13,780 15,175 11,549       26,724   40,504   57,455 3,582
Other revenue                          
Revenue:                          
Total revenue 25 24 24 25 24 24 48 48 73 73 $ 97 97 97
As Previously Reported                          
Revenue:                          
Total revenue 46,290 72,947 79,787 64,808 34,348 23,197 152,734 57,545 199,024 122,353      
Costs and expenses:                          
Acquisition-related costs       552 17,032   78 18,342 78 18,894      
Selling, general and administrative 16,004 10,713 10,910 40,307 3,512 5,462 21,545 7,664 37,549 47,971      
Depreciation and amortization 26,559 20,562 14,245 12,207 5,738 2,846 34,807 8,584 61,366 20,791      
Change in fair value of derivative asset 17,749 (60,931) (46,235) (7,413) (16,393)   (104,614) (16,393) (86,865) (23,806)      
Power curtailment credits (13,070) (5,706)   (2,507) (1,143)   (8,258) (1,143) (21,328) (3,650)      
Change in fair value of contingent consideration     176 259 185   176 185 176 444      
Realized gain on sale/exchange of Bitcoin (1,854) (14,353) (9,236) (65) (29)   (23,589) (29) (25,443) (94)     (5,184)
Gain on exchange of equipment (7,667) (8,614)         (8,614)   (16,281)        
Impairment of Bitcoin 5,900 99,787 26,390   17,507   126,177 17,507 132,077 17,507   36,462 989
Impairment of goodwill   335,648         335,648   335,648        
Total costs and expenses 86,301 425,460 41,878 68,955 39,470 15,842 467,338 55,312 553,639 124,267   235,602 26,214
Operating income (loss) (40,011) (352,513) 37,909 (4,147) (5,122) 7,355 (314,604) 2,233 (354,615) (1,914)   (22,359) (14,133)
Other income (expense):                          
Interest income (expense) 348   (357) 40 80 175 (357) 255 (9) 295      
Realized loss on sale of marketable equity securities   (1,624)         (1,624)   (1,624)        
Realized gain on sale/exchange of long-term investment         26,260     26,260   26,260      
Unrealized loss on marketable equity securities 142 (4,837) (1,611) (11,151) 339   (6,448) 339 (6,306) (10,812)      
Other income (expense)   (59)   (85) 1,510   (59) 1,510 (59) 1,425      
Gain on sale of equipment 7,667 8,614         8,614   16,281        
Total other income (expense) 490 (6,520) (1,968) (11,196) 28,189   (8,488) 28,364 (7,998) 17,168      
Net income (loss) before taxes (39,521) (359,033) 35,941 (15,343) 23,067 7,530 (323,092) 30,597 (362,613) 15,254   (7,672) (12,667)
Current income tax benefit (expense) 89 427 312       739   828        
Deferred income tax benefit (expense) (3,041) (6,626)     3,730   (6,626) 3,730 (9,667) 3,730      
Total income tax benefit (expense) 2,952 6,199 (312)   (3,730)   5,887 (3,730) 8,839 (3,730)      
Net income (loss)     (35,629)     (7,530) 317,205 (26,867) 353,774 (11,524)   7,926 12,667
Net income (loss) attributable to Riot Platforms, Inc. $ (36,569) $ (352,834) $ 35,629 $ (15,343) $ 19,337 $ 7,530 $ (317,205) $ 26,867 $ (353,774) $ 11,524   $ (7,926) $ (12,674)
Basic net income (loss) per share (in Dollars per share) $ (0.24) $ (2.71) $ 0.30 $ (0.16) $ 0.22 $ 0.09 $ (2.56) $ 0.31 $ (2.64) $ 0.13   $ (0.08) $ (0.30)
Diluted net income (loss) per share (in Dollars per share) $ (0.24) $ (2.71) $ 0.30 $ (0.16) $ 0.22 $ 0.09 $ (2.56) $ 0.31 $ (2.64) $ 0.13   $ (0.08) $ (0.30)
Basic weighted average number of shares outstanding (in Shares) 153,895,123 130,405,502 117,042,347 96,064,036 88,681,338 83,163,400 123,760,839 85,937,612 133,894,338 89,350,180      
Diluted weighted average number of shares outstanding (in Shares) 153,895,123 130,405,502   96,064,036 89,241,044 83,712,151 123,760,839 86,501,471 133,894,338 89,896,374      
As Previously Reported | Bitcoin Mining                          
Revenue:                          
Total revenue $ 22,070 $ 46,151 $ 57,945 $ 53,590 $ 31,450 $ 23,173 $ 104,096 $ 54,623 $ 126,166 $ 108,213      
Costs and expenses:                          
Cost of revenues 14,677 17,995 19,094 13,034 9,325 7,534 37,089 16,859 51,766 29,893      
As Previously Reported | Data Center Hosting                          
Revenue:                          
Total revenue 8,371 9,834 9,694 11,193 2,874   19,528 2,874 27,899 14,067      
Costs and expenses:                          
Cost of revenues 14,223 15,184 14,985 12,581 3,736   30,169 3,736 44,392 16,317      
As Previously Reported | Engineering                          
Revenue:                          
Total revenue 15,824 16,938 12,124       29,062   44,886        
Costs and expenses:                          
Cost of revenues 13,780 15,175 11,549       26,724   40,504        
As Previously Reported | Other revenue                          
Revenue:                          
Total revenue 25 24 24 25 24 24 48 48 73 73      
Adjustment                          
Costs and expenses:                          
Realized gain on sale/exchange of Bitcoin     (429)       (1,336)   (2,591)        
Impairment of Bitcoin     (520)     2,374 1,112 2,702 (1,767) 9,394      
Other income (expense):                          
Net income (loss)     (949)     2,374 (224) 2,702 (4,134) 9,394      
Adjustment | Impairment of Bitcoin                          
Costs and expenses:                          
Realized gain on sale/exchange of Bitcoin (1,255) (907) (429)       (1,336)   (2,591)        
Impairment of Bitcoin (2,879) 1,632 (520) 6,692 328 2,374 1,112 2,702 (1,767) 9,394      
Total costs and expenses (4,134) 725 (949) 6,692 328 2,374 (224) 2,702 (4,358) 9,394      
Operating income (loss) 4,134 (725) 949 (6,692) (328) (2,374) 224 (2,702) 4,358 (9,394)      
Other income (expense):                          
Net income (loss) before taxes 4,134 (725) 949 (6,692) (328) (2,374) 224 (2,702) 4,358 (9,394)      
Net income (loss)     (949)                    
Net income (loss) attributable to Riot Platforms, Inc. $ 4,134 $ (725) $ 949 $ (6,692) $ (328) $ (2,374) $ 224 $ (2,702) $ 4,358 $ (9,394)      
Basic net income (loss) per share (in Dollars per share) $ 0.03 $ (0.01) $ 0.01 $ (0.07) $ (0.01) $ (0.03) $ 0.00 $ (0.03) $ 0.03 $ (0.11)      
Diluted net income (loss) per share (in Dollars per share) $ 0.03 $ (0.01) $ 0.01 $ (0.07) $ (0.01) $ (0.03) $ 0.00 $ (0.03) $ 0.03 $ (0.10)