Riot Platforms, Inc.

Riot Platforms updated its primary risk factor to reflect newly enacted Texas Senate Bill 6, which imposes stricter interconnection, security-deposit, and load-monitoring requirements on large power consumers like Riot's Rockdale and Corsicana facilities. While disclosure controls remain effective and there are no material internal control changes, the heightened regulatory scrutiny of ERCOT/PUCT grid participation introduces new operational and cost risks tied to the company's core bitcoin mining and data center power infrastructure. The large reported percentage changes in Risk Factors and Controls & Procedures appear driven mainly by the insertion of updated regulatory language rather than a change in control effectiveness itself.