RIOT · Riot Platforms, Inc. · Insider Trading

Represents shares of Common Stock gifted by the Reporting Person to a charitable donor advised fund.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $21.41 to $22.40, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $22.41 to $23.40, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $23.41 to $23.73, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of performance-based restricted stock previously granted to the Reporting Person under the Issuer's Long-Term Incentive Program. The vesting of such shares was subject to the Issuer's achievement of certain performance objectives.

Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of performance-based restricted stock previously granted to the Reporting Person under the Issuer's Long-Term Incentive Program. The vesting of such shares was subject to the Issuer's achievement of certain performance objectives.

Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of performance-based restricted stock previously granted to the Reporting Person under the Issuer's Long-Term Incentive Program. The vesting of such shares was subject to the Issuer's achievement of certain performance objectives.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $20.52 to $21.51, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $21.53 to $22.26, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

Represents shares withheld by the Issuer to cover tax withholding obligations upon vesting of restricted shares of the Issuer's common stock.

Represents an award of restricted shares of the Issuer's common stock, no par value per share, granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2027. These shares are eligible to vest, if at all, in four approximately equal tranches on September 30, 2026, December 31, 2026, March 31, 2027, and June 30, 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Represents an award of restricted shares of the Issuer's common stock, no par value per share, granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2027. These shares are eligible to vest, if at all, in four approximately equal tranches on September 30, 2026, December 31, 2026, March 31, 2027, and June 30, 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Represents shares withheld by the Issuer to satisfy tax withholding requirements upon vesting of restricted shares of the Issuer's common stock.

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

The reported transaction represents the settlement by the Issuer of the vested award of RSUs granted to the Reporting Person under the Issuer's equity plan. On July 13, 2023, the reporting person was granted service-based RSUs which were eligible to vest, if at all, in three (3) approximately equal tranches as of July 1, 2024, 2025, and 2026, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

The reported transaction represents the settlement by the Issuer of the vested award of RSUs granted to the Reporting Person under the Issuer's equity plan. On July 1, 2024, the reporting person was granted service-based RSUs which were eligible to vest, if at all, in three (3) approximately equal tranches as of July 1, 2025, 2026, and 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Represents shares withheld by the Issuer to satisfy tax withholding requirements upon vesting of restricted shares of the Issuer's common stock.

Represents the unvested award of restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2027. Each RSU represents the contingent right to receive one share of the Issuer's common stock, no par value per share, upon vesting and settlement by the Issuer. These RSUs are eligible to vest, if at all, in four approximately equal tranches on September 30, 2026, December 31, 2026, March 31, 2027, and June 30, 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Represents an award of restricted shares of the Issuer's common stock, no par value per share, granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2027. These shares are eligible to vest, if at all, in four approximately equal tranches on September 30, 2026, December 31, 2026, March 31, 2027, and June 30, 2027, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $30.00 to $30.01, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 25, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $30.00 to $30.31, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $26.50 to $26.53, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 25, 2025.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $25.00 to $25.47, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

Reflects restricted shares of the Issuer's common stock forfeited by the Reporting Person pursuant to the terms of the applicable equity award agreements and the mutual Separation Agreement and General Release, dated April 12, 2026.

Represents shares withheld by the Issuer to cover tax withholding obligations upon vesting of restricted shares of the Issuer's common stock.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 59,194 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 473,559 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.

On January 1, 2026, the Reporting Person was granted an award of unvested RSUs, pursuant to an equity award agreement between the Issuer and Reporting Person. Such shares are eligible to vest, if at all, in two (2) approximately equal tranches as of January 1, 2027, and 2028, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 236,779 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 473,559 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 197,316 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 197,316 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents shares withheld by the Issuer to cover tax withholding obligations upon vesting of restricted shares of the Issuer's common stock.

Represents an award of performance-based restricted shares under the LTIP at the maximum achievable amount of up to 200% of the award target amount of 236,779 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2026 through December 31, 2028, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2029.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program ("LTIP"). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2027, January 1, 2028, and January 1, 2029, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.

Represents shares withheld by the Issuer to satisfy tax withholding requirements upon vesting of restricted shares of the Issuer's common stock.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2024.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $20.00 to $20.145, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2024.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $20.00 to $20.005, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2024.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $20.00 to $20.10, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

This Form 4 amendment is being filed solely to add the Power of Attorney, attached as Exhibit 24.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $15.69 to $15.885, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 10, 2024.

These shares were sold on the indicated date in a series of multiple transactions at prices ranging from $15.00 to $15.245, inclusive, per share. The price reported above reflects the weighted average sales price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Shares held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021.

Represents the unvested award of restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2026. Each RSU represents the contingent right to receive one share of the Issuer's common stock, no par value per share, upon vesting and settlement by the Issuer. These RSUs are eligible to vest, if at all, in four approximately equal tranches on September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.

This Form 4 amendment is being filed solely to add the Power of Attorney, attached as Exhibit 24.

Represents an award of restricted shares of the Issuer's common stock, no par value per share, granted to the Reporting Person under the Issuer's 2019 Equity Incentive Plan, as amended, as of the indicated date, in connection with service on the Issuer's Board of Directors through June 30, 2026. These shares are eligible to vest, if at all, in four approximately equal tranches on September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026, subject to the Reporting Person's continued service with the Issuer through the applicable vesting dates.