For the year ending 2025-12-31, RIOT had -$41,512K decrease in cash & cash equivalents over the period. -$774,310K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Impairment of bitcoin | - | - | - | 147,365 |
| Change in fair value of derivative asset | - | - | - | -71,418 |
| Change in fair value of contingent consideration | - | - | - | -159 |
| Realized loss on sale of marketable equity securities | - | - | - | -8,996 |
| Bitcoin mining revenue | - | - | - | 156,870 |
| Proceeds from sale of bitcoin | - | 9,518 | 176,219 | 79,529 |
| Accounts receivable | - | - | - | 11,534 |
| Costs and estimated earnings in excess of billings | - | - | - | 9,881 |
| Prepaid expenses and other current assets | - | - | - | 25,520 |
| Future power credits | - | - | - | -58,993 |
| Accounts payable | - | - | - | -1,593 |
| Billings in excess of costs and estimated earnings | - | - | - | 3,182 |
| Accrued expenses | - | - | - | 13,555 |
| Customer deposits | - | - | - | 1,989 |
| Deferred revenue | - | - | - | -1,791 |
| Lease liability | - | - | - | -11,853 |
| Impairment of goodwill | - | - | - | 335,648 |
| Net income (loss) | -663,181 | 109,401 | -49,472 | - |
| Stock-based compensation | 125,711 | 125,204 | 32,170 | 24,555 |
| Income tax expense (benefit) | - | - | - | -11,749 |
| Issuance of common stock to a third-party advisor | - | 1,912 | - | 0 |
| Depreciation and amortization | 346,811 | 212,053 | 252,354 | 107,950 |
| Amortization of license fee revenue | -388 | -97 | -97 | -97 |
| Noncash lease expense | 6,324 | 3,908 | 2,509 | 12,181 |
| Deferred income tax expense (benefit) | - | - | -5,045 | - |
| Amortization of debt issuance costs | 4,295 | 250 | - | - |
| Change in fair value of bitcoin | -115,880 | 457,409 | 184,734 | - |
| Change in fair value of derivative assets | 1,447 | -45,277 | -6,721 | - |
| Change in fair value of contingent consideration | -18,071 | -2,459 | - | - |
| Loss on contract settlement | -35,518 | - | - | - |
| Impairment of long-term investment | - | - | - | 0 |
| Loss on legal settlement | -20,000 | - | - | - |
| Reversal of registration rights penalty | - | - | - | 0 |
| Gain on acquisition post-close dispute settlement | 26,007 | - | - | - |
| Realized gain on sale/exchange of long-term investment | - | - | - | 0 |
| Impairment of property and equipment | 29,736 | - | - | - |
| (gain) loss on equity method investment - marketable securities | -28,192 | -69,489 | - | 0 |
| Realized gain on sale/exchange of bitcoin | - | - | - | 30,346 |
| Loss on convertible notes investment | -5,757 | - | - | - |
| Loss (gain) on sale of equipment | 2,267 | -17,429 | -5,336 | 16,281 |
| Casualty-related charges | - | 310 | 1,526 | 9,688 |
| Revenue recognized from bitcoin mined | 576,276 | 321,002 | 188,996 | - |
| Impairment of miners | - | - | - | 55,544 |
| (increase)/decrease in operating assets | 30,495 | -7,839 | -6,352 | - |
| Net income (loss) | - | - | - | -509,553 |
| Increase/(decrease) in operating liabilities | 24,086 | 13,879 | -8,316 | - |
| Net cash provided by (used in) operating activities | -572,928 | -255,052 | 33,085 | 530 |
| Acquisition, net of cash acquired-Block Mining Inc | - | 7,203 | - | - |
| Acquisition, net of cash acquired-E4a Solutions | - | 50,861 | - | - |
| Acquisition of assets from rhodium | 7,250 | - | - | - |
| Proceeds from the sale of marketable equity securities | - | - | - | 1,808 |
| Acquisition of bitcoin | - | 577,500 | - | - |
| Acquisition of land | 148,379 | - | - | - |
| Deposits on equipment | 213,595 | 442,473 | 230,397 | 194,923 |
| Proceeds from sale of bitcoin | 535,486 | - | - | - |
| Security deposits | 1,768 | 4,095 | - | - |
| Other deposits | - | - | - | 3,809 |
| Investment in convertible debt | - | - | 4,500 | - |
| Investment in equity method investment - marketable securities | - | 203,754 | - | - |
| Proceeds from the sale of equity method investment - marketable securities | 106,073 | - | - | - |
| Acquisition of whinstone, net of cash acquired | - | - | - | 0 |
| Purchases of property and equipment, including construction in progress | 201,382 | 240,340 | 193,704 | 148,412 |
| Acquisition of ess metron, net of cash acquired | - | - | - | 0 |
| Purchases of right-of-use assets | 3,595 | - | - | - |
| Proceeds from the sale of long-term investments | - | - | - | 0 |
| Casualty-related recoveries | 174 | 3,105 | 7,500 | - |
| Proceeds from the sale of equipment | 6,827 | 14,316 | 6,369 | 0 |
| Patent costs incurred | - | - | 34 | 9,527 |
| Net cash provided by (used in) investing activities | 76,127 | -1,508,805 | -414,766 | -354,863 |
| Proceeds from exercise of common stock warrants | - | - | - | 0 |
| Proceeds from the issuance of common stock / at-the-market offering | 212,735 | 977,030 | 778,430 | 304,849 |
| Offering costs for the issuance of common stock / at-the-market offering | 5,033 | 20,393 | 16,657 | 6,640 |
| Proceeds from credit and security facility | - | - | 6,920 | - |
| Proceeds from issuance of convertible notes | - | 594,383 | - | - |
| Proceeds from credit facility-Revolving Credit Facility | 61,000 | - | - | - |
| Repayments of revolving credit facilities | 6,728 | 866 | 6,059 | - |
| Proceeds from credit facility-Two Hundred Million Credit Facility | 200,000 | - | - | - |
| Debt issuance costs | 2,396 | 15,249 | 77 | - |
| Repayment of debt assumed in block mining acquisition | - | 5,002 | - | - |
| Payments on contingent consideration liability - future power credits | - | - | - | 15,725 |
| Repayment of note payable | - | 352 | - | - |
| Repurchase of common shares to pay employee withholding taxes | 4,289 | 11,562 | 14,035 | 10,138 |
| Net cash provided by (used in) financing activities | 455,289 | 1,517,989 | 748,522 | 272,346 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | -41,512 | -245,868 | 366,841 | -81,987 |
| Cash and cash equivalents and restricted cash at beginning of period | 351,301 | 597,169 | 230,328 | - |
| Cash and cash equivalents and restricted cash at end of period | 309,789 | 351,301 | 597,169 | - |
Riot Platforms, Inc. (RIOT)
Riot Platforms, Inc. (RIOT)