Riot Platforms Announces Chief Financial Officer Transition
Rhea-AI Summary
Riot Platforms (NASDAQ: RIOT) appointed Jason Chung as Chief Financial Officer effective March 1, 2026, succeeding Colin Yee who has served as CFO since 2022.
Yee will remain with the company through March 1, 2026 and then transition to a Senior Advisor role to support continuity. Chung currently serves as EVP, Head of Corporate Development & Strategy and will continue to oversee Corporate Development and Investor Relations while leading the finance organization.
Positive
- Effective date: Jason Chung becomes CFO on March 1, 2026
- Continuity: Colin Yee remains through March 1, 2026 to aid transition
- Senior Advisor role preserves institutional knowledge post-transition
- Consolidation of finance and strategy under Chung for alignment
- Experience: Chung brings two decades in investment banking and corporate finance
- Ongoing coverage: Chung will continue to lead investor relations and M&A
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
While RIOT was modestly lower (-0.24%), close peers like MARA (+7.83%) and WULF (+8.84%) moved sharply higher, pointing to a stock-specific reaction to company developments rather than a uniform sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 04 | Production update | Neutral | +0.3% | Unaudited November 2025 bitcoin production, holdings, and power cost metrics. |
| Nov 04 | Production update | Neutral | -7.0% | October 2025 BTC production, sales proceeds, hash rate and efficiency details. |
| Oct 30 | Earnings results | Positive | -4.9% | Record Q3 2025 revenue, net income, BTC production and Corsicana expansion. |
| Oct 16 | Earnings call notice | Neutral | -11.7% | Announcement of scheduling for the Q3 2025 earnings conference call. |
| Oct 03 | Production update | Neutral | +1.0% | September 2025 BTC production, sales, hash rate and power economics update. |
News tied to operations and earnings has produced mixed reactions, with strong fundamental reports sometimes met by negative price moves.
Over recent months, Riot has focused updates on bitcoin production, operational efficiency, and a strong Q3 2025 turnaround. Monthly reports in September, October, and November 2025 detailed BTC output, hash rate growth, and power economics, with generally small price moves. The Q3 2025 earnings release on Oct 30 highlighted record revenue and profitability yet saw a negative reaction. Against this backdrop, the CFO transition fits into ongoing corporate evolution alongside operational scaling and financial strengthening.
Market Pulse Summary
This announcement details a planned CFO transition effective March 1, 2026, with the current CFO moving into a Senior Advisor role to support continuity. The incoming CFO already oversees corporate development and strategy, suggesting leadership alignment around capital markets and M&A priorities. In context of prior crypto-related strategic moves and financing arrangements, investors may watch future disclosures on capital allocation, infrastructure investments, and execution against digital infrastructure growth plans.
Key Terms
capital markets financial
m&a financial
AI-generated analysis. Not financial advice.
CASTLE ROCK, Colo., Jan. 02, 2026 (GLOBE NEWSWIRE) -- Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”) today announced the appointment of Jason Chung as Chief Financial Officer of the Company, effective March 1, 2026. Chung succeeds Colin Yee, who has served as the Company’s Chief Financial Officer since 2022.
As part of this transition, Yee will continue to serve in his current capacity through March 1, 2026, after which he will transition to a Senior Advisor role to ensure a seamless transition and support the Company’s strategic continuity.
Chung currently serves as Riot’s EVP, Head of Corporate Development & Strategy, and brings two decades of experience in investment banking and corporate finance to the CFO role, having spearheaded the Company’s capital markets strategy, investor relations, and M&A initiatives. In this expanded role, Chung will assume leadership of Riot’s finance organization while continuing to oversee Corporate Development and Investor Relations, further aligning the Company’s financial framework with its long-term strategic objectives.
“On behalf of the executive team, I’d like to thank Colin for his leadership and significant contributions to Riot,” said Jason Les, CEO of Riot Platforms. “Colin has played an important role in strengthening Riot’s financial foundation, developing our internal reporting infrastructure, and supporting the Company through key phases of growth. We are grateful for his partnership in ensuring a smooth and thoughtful transition and look forward to his continued counsel as a Senior Advisor.
“I am pleased to appoint Jason Chung as Riot’s next CFO. His extensive experience and solid track record of delivering value-creating results, combined with his expertise in capital markets and corporate development, make him the ideal leader to guide our capital allocation strategy as we execute on our ambitious growth plans. Consolidating our finance and strategy functions under Jason’s leadership positions Riot to move with even greater strategic alignment as we continue to execute on our long-term strategy.”
“I’m proud of the resilient financial platform we have built at Riot,” said Yee. “This transition represents a natural evolution for the Company, and I look forward to ensuring a smooth handover and continuing to support the team in my new Senior Advisor role.”
“I am honored to step into the CFO role at such a transformative time for Riot,” said Chung. “Having led our corporate development efforts, I see a tremendous opportunity to further integrate our financial discipline with our growth ambitions in digital infrastructure. I look forward to working with our talented finance team to drive operational efficiency and disciplined capital deployment, ensuring continued value creation for our shareholders.”
About Riot Platforms, Inc.
Riot’s (NASDAQ: RIOT) vision is to be the world’s most trusted platform for powering and building digital infrastructure.
Riot’s mission is to empower the future of digital infrastructure by positively impacting the sectors, networks, and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes.
Riot is a Bitcoin-driven industry leader in the development of large-scale data centers and bitcoin mining applications. The Company’s vertically integrated strategy spans Bitcoin mining, engineering, and the development of large-scale data center projects designed to support the growing demand for high-density computing. Riot currently operates Bitcoin mining facilities in central Texas and Kentucky, with engineering and fabrication capabilities in Denver and Houston. The Company is now expanding into data center development, strengthening its position as a foundational builder in the digital economy.
For more information, visit www.riotplatforms.com.
Safe Harbor
Statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” “potential,” “hope,” similar expressions and their negatives are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to: plans to develop data centers; forecasted capital expenditures; projected growth; and the Company’s other plans, projections, objectives, expectations, and intentions. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation: the feasibility of developing the Company’s power capacity for data center purposes, including artificial intelligence/high-performance computing uses; the anticipated demand for large data centers; our ability to attract and retain qualified third-party partners and customers; future economic conditions, performance, or outlooks; and events or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. Detailed information regarding the factors identified by the Company’s management which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release may be found in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the risks, uncertainties and other factors discussed under the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as amended, and the other filings the Company makes with the SEC, copies of which may be obtained from the SEC’s website, www.sec.gov. All forward- looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Persons reading this press release are cautioned not to place undue reliance on such forward-looking statements.
For further information, please contact:
Investor Contact:
Joshua Kane / Phil McPherson
IR@Riotplatforms.com
Media Contact:
Becca Rincon
PR@riotplatforms.com
FAQ
When does Riot Platforms (RIOT) appoint Jason Chung as CFO?
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