SCHEDULE: FMR LLC Holds 7.6% Stake in Riot Platforms

FMR LLC and Abigail P. Johnson report a combined beneficial ownership of 7.6% of Riot Platforms Inc.'s common stock as of June 30, 2026.

Summary

• FMR LLC and Abigail P. Johnson, through various affiliated entities, collectively hold a beneficial ownership of 29,645,078.97 shares of Riot Platforms Inc. common stock.
• This holding represents 7.6% of the total outstanding common stock as of June 30, 2026.
• The filing is an amendment to a previous Schedule 13G, indicating a continuation of their investment position.
• FMR LLC is classified as a holding company, and Abigail P. Johnson is identified as an individual investor.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, reflecting a significant but stable institutional ownership stake without immediate indications of aggressive buying or selling.

Positives

• FMR LLC and Abigail P. Johnson maintain a substantial ownership stake, indicating continued confidence in Riot Platforms.
• The filing confirms the investment is in the ordinary course of business, suggesting a long-term perspective rather than a short-term activist play.

Negatives

• No new significant changes in ownership percentage were reported, suggesting a stable but not rapidly growing stake.
• The filing does not provide specific details on the rationale behind maintaining this stake, beyond it being in the ordinary course of business.

Risks

• The filing does not explicitly mention any new risks or changes to existing risk factors for Riot Platforms.
• Potential future changes in FMR LLC's investment strategy could impact Riot Platforms' stock.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from FMR LLC or Abigail P. Johnson regarding future ownership levels or intentions beyond holding shares in the ordinary course of business.

Management Comments

• "This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the 'FMR Reporters')."
• "The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares."
• "Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect..."

Industry Context

StockSavvy.ai notes that FMR LLC and Abigail P. Johnson are significant institutional investors. Their continued holding of a substantial stake in Riot Platforms, a major Bitcoin mining company, suggests a positive outlook on the cryptocurrency mining sector, despite the inherent volatility of digital assets and mining operations.

Comparison to Industry Standards

• As a Schedule 13G filing, it primarily reports ownership stakes rather than operational or financial performance metrics that are directly comparable to industry standards for Bitcoin miners.
• The 7.6% ownership by FMR LLC is a significant stake for an institutional investor in the Bitcoin mining sector, often indicating a belief in the long-term viability and growth potential of the company.
• Competitors in the Bitcoin mining space, such as Marathon Digital Holdings or CleanSpark, also have institutional investors, but the specific percentage and nature of ownership can vary significantly.

Related Party Transactions

• The filing mentions a shareholders' voting agreement among members of the Johnson family regarding Series B voting common shares of FMR LLC, which may influence control of FMR LLC.

Stakeholder Impact

• Shareholders: The continued significant ownership by FMR LLC and Abigail P. Johnson may provide a degree of stability and confidence in the company's long-term strategy.
• Management: The presence of large institutional holders can influence corporate governance and strategic decisions.
• Creditors: Stable, significant ownership can be viewed positively by creditors as it suggests a committed investor base.

Next Steps

• Monitor future filings for any changes in FMR LLC's or Abigail P. Johnson's ownership stake in Riot Platforms.
• Observe Riot Platforms' operational and financial performance, which may influence the investment decisions of major shareholders like FMR LLC.

Key Dates

Recommendation

This filing is a routine Schedule 13G amendment indicating a stable, passive ownership stake. It does not provide new information that would warrant a change in investment strategy, such as a significant increase or decrease in holdings, or any indication of activist intent. Therefore, a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Riot Platforms, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Bitcoin Mining