Riot Platforms (RIOT) Operating Expenses (2010 - 2026)

Riot Platforms (RIOT) recorded quarterly Operating Expenses of $667.1 million in Q1 2026, down 20.33% quarter-over-quarter from $837.3 million in Q4 2025, and up 68.77% on a YoY basis from $395.3 million in Q1 2025.

Riot Platforms (RIOT) Operating Expenses (2010 - 2026) Analysis & Trends

Riot Platforms' Operating Expenses history runs 13 years deep, the most recent figure standing at $667.1 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 68.77% year-over-year to $667.1 million; the TTM figure through Mar 2026 stood at $1.5 billion (up 107.47% YoY), while the FY2025 annual figure was $1.3 billion, up 469.15% from the prior year.
  • Operating Expenses was $667.1 million for Q1 2026 at Riot Platforms, down from $837.3 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $837.3 million in Q4 2025 to a low of -$124.6 million in Q1 2024.
  • Historically, Operating Expenses has averaged $192.7 million across 5 years, with a median of $108.9 million in 2023.
  • The sharpest annual moves came in 2024 and 2025: Operating Expenses plunged 323.13% in 2024, then jumped 1934.46% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $222.6 million in 2022, then plunged by 80.01% to $44.5 million in 2023, then slumped by 202.56% to -$45.6 million in 2024, then surged by 1934.46% to $837.3 million in 2025, then declined by 20.33% to $667.1 million in 2026.
  • The last three Operating Expenses figures came in at $667.1 million (Q1 2026), $837.3 million (Q4 2025), and $100.2 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 96,012.83 Bn 96,012.83 Bn - 386,258.80
2 Morgan Stanley 328.23 Bn 194.70 Bn - 13.47 Bn
3 Goldman Sachs 313.22 Bn -624.33 Bn - 10.43 Bn
4 Schwab Charles 154.90 Bn 109.92 Bn - 3.29 Bn
5 Robinhood Markets 75.17 Bn 70.53 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 38.41 Bn 49.00 Bn - 381.00 Mn
7 LPL Financial Holdings 23.13 Bn 22.10 Bn - 4.45 Bn
8 Tradeweb Markets 21.12 Bn 19.87 Bn - 330.51 Mn
9 Circle Internet 19.75 Bn 18.24 Bn 35.01 Mn 242.35 Mn
10 Riot Platforms 8.77 Bn 8.47 Bn 80.46 Mn 667.09 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 667.09 Mn
Dec 31, 2025 837.32 Mn
Sep 30, 2025 100.18 Mn
Jun 30, 2025 -63.16 Mn
Mar 31, 2025 395.26 Mn
Dec 31, 2024 -45.64 Mn
Sep 30, 2024 206.30 Mn
Jun 30, 2024 187.06 Mn
Mar 31, 2024 -124.65 Mn
Dec 31, 2023 44.50 Mn
Sep 30, 2023 134.44 Mn
Jun 30, 2023 108.92 Mn
Mar 31, 2023 55.86 Mn
Dec 31, 2022 222.59 Mn
Sep 30, 2022 82.17 Mn
Jun 30, 2022 426.19 Mn
Mar 31, 2022 40.93 Mn
Dec 31, 2021 109.45 Mn
Sep 30, 2021 75.65 Mn
Jun 30, 2021 39.80 Mn