Riot Platforms Appoints New CFO Amid Leadership Shake-up

Riot Platforms Taps Jason Chung as New CFO, Eyeing Strategic Alignment

Riot Platforms, Inc. (NASDAQ: RIOT), a key player in the digital infrastructure and Bitcoin mining space, has announced a significant leadership transition in its finance department. Jason Chung has been appointed Chief Financial Officer, effective March 1, 2026, succeeding Colin Yee. This move signals a strategic consolidation of financial oversight with the company’s growth and development initiatives.

Yee, who has helmed the CFO role since 2022, will remain with Riot through the effective date of Chung’s appointment, transitioning into a Senior Advisor position. This phased approach is designed to ensure continuity and leverage Yee’s institutional knowledge during a critical period of expansion for the company.

Chung, currently serving as Executive Vice President and Head of Corporate Development & Strategy, brings a wealth of experience to the CFO role. His background, spanning two decades in investment banking and corporate finance, has been instrumental in shaping Riot’s capital markets strategy, investor relations, and mergers and acquisitions. In his expanded capacity, Chung will not only lead the finance organization but also continue to steer Corporate Development and Investor Relations. This integration is expected to foster greater alignment between Riot’s financial operations and its ambitious long-term strategic objectives, particularly in the burgeoning digital infrastructure sector.

Jason Les, CEO of Riot Platforms, expressed gratitude for Yee’s contributions, highlighting his role in strengthening the company’s financial foundation and supporting its growth phases. “We are grateful for his partnership in ensuring a smooth and thoughtful transition and look forward to his continued counsel as a Senior Advisor,” Les stated.

Addressing Chung’s appointment, Les emphasized his suitability for the role: “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.”

Echoing this sentiment, Yee remarked, “I’m proud of the resilient financial platform we have built at Riot. 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.”

Chung also shared his enthusiasm, stating, “I am honored to step into the CFO role at such a transformative time for Riot. 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.”

**Strategic Implications and Market Context**

The appointment of Chung, who already holds a senior strategic role, suggests a move towards a more integrated approach to financial management and corporate strategy. In the fast-paced cryptocurrency and digital infrastructure landscape, companies are increasingly looking for financial leaders who can navigate complex capital markets, identify strategic growth opportunities through M&A, and maintain robust investor relations. Chung’s dual responsibility in finance and corporate development could streamline decision-making processes and enhance the company’s ability to execute on its expansion plans.

Riot Platforms has been actively investing in scaling its Bitcoin mining operations and developing large-scale data centers, particularly with an eye on the growing demand for high-density computing and artificial intelligence infrastructure. This CFO transition occurs against a backdrop of significant operational updates and earnings reports. Recent production updates for November 2025, October 2025, and September 2025 have detailed Bitcoin output, hash rates, and power economics, generally eliciting neutral market reactions with modest price movements. The third-quarter 2025 earnings release, however, despite reporting record revenue and net income, saw a negative stock price reaction, highlighting the market’s sensitivity to the company’s financial performance and operational execution.

The company’s historical performance indicates a pattern where operational and earnings news can lead to mixed market responses. The planned consolidation of finance and strategy under Chung’s leadership could be a strategic response to this dynamic, aiming to create a more cohesive narrative and execution path for investors.

**About Riot Platforms, Inc.**

Riot Platforms, Inc. is dedicated to being a leading platform for powering and building digital infrastructure. The company’s mission encompasses empowering the future of digital infrastructure through innovation and community partnerships. As a vertically integrated industry leader, Riot engages in Bitcoin mining, engineering, and the development of large-scale data center projects. Its operations are primarily based in central Texas and Kentucky, with engineering and fabrication capabilities in Denver and Houston. Riot is strategically expanding into data center development to bolster its role as a foundational builder in the digital economy.

**Forward-Looking Statements**

This press release contains forward-looking statements concerning management’s expectations, assumptions, and projections regarding future performance and economic conditions. These statements are based on current beliefs and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements typically include terms like “anticipates,” “believes,” “plans,” “expects,” “intends,” “will,” and “potential.” Investors are advised to consult the company’s filings with the U.S. Securities and Exchange Commission for a detailed understanding of the risks and factors that could impact future results. The company disclaims any obligation to update these forward-looking statements.