<SEC-DOCUMENT>0001415889-25-019331.txt : 20250703
<SEC-HEADER>0001415889-25-019331.hdr.sgml : 20250703
<ACCEPTANCE-DATETIME>20250703163020
ACCESSION NUMBER:		0001415889-25-019331
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250701
FILED AS OF DATE:		20250703
DATE AS OF CHANGE:		20250703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Howell Stephen Mitchell Jr.
		CENTRAL INDEX KEY:			0002025334
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33675
		FILM NUMBER:		251105931

	MAIL ADDRESS:	
		STREET 1:		C/O RIOT PLATFORMS, INC.
		STREET 2:		3855 AMBROSIA STREET, SUITE 301
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80109

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Riot Platforms, Inc.
		CENTRAL INDEX KEY:			0001167419
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				841553387
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3855 AMBROSIA STREET, SUITE 301
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80109
		BUSINESS PHONE:		303-794-2000

	MAIL ADDRESS:	
		STREET 1:		3855 AMBROSIA STREET, SUITE 301
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Riot Blockchain, Inc.
		DATE OF NAME CHANGE:	20171004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bioptix, Inc.
		DATE OF NAME CHANGE:	20161201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Venaxis, Inc.
		DATE OF NAME CHANGE:	20121218
</SEC-HEADER>
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    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-07-01</periodOfReport>

    <issuer>
        <issuerCik>0001167419</issuerCik>
        <issuerName>Riot Platforms, Inc.</issuerName>
        <issuerTradingSymbol>RIOT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002025334</rptOwnerCik>
            <rptOwnerName>Howell Stephen Mitchell Jr.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CASTLE ROCK</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80109</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>COO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2025-07-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
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                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>11.27</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>802785</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2025-07-01</value>
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                    <footnoteId id="F2"/>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>1024612</value>
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                    <value>D</value>
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        </nonDerivativeTransaction>
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            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
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                <transactionAcquiredDisposedCode>
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            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares withheld by the Issuer to cover tax withholding obligations upon vesting of restricted shares of the Issuer's common stock.</footnote>
        <footnote id="F2">Represents the award of service-based restricted shares under the Issuer's Long-Term Incentive Program (&quot;LTIP&quot;). These shares are eligible to vest, if at all, in three approximately equal tranches as of January 1, 2026, January 1, 2027, and January 1, 2028, subject to the Reporting Person's continued service with the Issuer through each applicable vesting date.</footnote>
        <footnote id="F3">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 221,827 shares. Such shares are eligible to vest, if at all, at the end of the three-year performance period from January 1, 2025 through December 31, 2027, upon certification by the Compensation and Human Resources Committee, and subject to the Reporting Persons continued service with the Issuer through January 1, 2028.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Tanya McGill, Attorney-in-Fact for Stephen Howell</signatureName>
        <signatureDate>2025-07-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
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</SEC-DOCUMENT>
