Riot Platforms, Inc. (NASDAQ: RIOT) experienced a notable increase in its stock price on Monday following the announcement of a key executive leadership transition. The company named Jason Chung as its incoming Chief Financial Officer, with his appointment set to take effect on March 1, 2026. Chung currently holds the position of Executive Vice President and Head of Corporate Development & Strategy at Riot Platforms, bringing to the CFO role nearly two decades of experience in investment banking and corporate finance.
He is slated to succeed Colin Yee, who has been the company’s CFO since 2022. While Yee will retain his CFO responsibilities through to the effective date of Chung's appointment, he will then transition to a Senior Advisor role to facilitate a smooth leadership handover and continue supporting strategic initiatives within Riot.
Jason Les, the CEO of Riot Platforms, acknowledged Colin Yee’s contributions, noting, “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.” He also highlighted Chung’s qualifications, emphasizing his “extensive experience and solid track record of delivering value-creating results,” as well as his expertise in capital markets and corporate development.
Les further remarked that bringing finance and strategy under Chung’s leadership would enable greater strategic alignment, reinforcing Riot Platforms’ capacity to execute its ambitious growth plans and long-term strategy.
November 2025 Operational Highlights
The company shared November 2025 production figures indicating a total of 428 Bitcoin mined during the month, which averages out to approximately 14.3 Bitcoin per day. Additionally, Riot Platforms reported maintaining an all-in power cost of 4.0 cents per kilowatt-hour, reflecting operational cost efficiency in its Bitcoin mining activities.
As of the end of November 2025, Riot held a Bitcoin inventory totaling 19,368 units, underscoring its significant crypto asset holding position.
Recent Financial Performance
Riot Platforms disclosed its financial results for the third quarter, reporting revenue of $180.2 million. This surpasses analysts’ expectations, which had forecasted $172.6 million. The company’s earnings per share (EPS) came in at 26 cents, beating the anticipated 21 cents per share.
During the quarter, Riot increased its Bitcoin production to 1,406 units, up from 1,104 mined in the same period the previous year. By the end of the quarter, the company’s Bitcoin holdings stood at 19,287 units. Furthermore, Riot reported possessing $330.7 million in unrestricted cash, positioning it with strong liquidity.
Market Reaction
Following the announcement of the CFO transition and the publication of solid operational and financial results, Riot Platforms’ shares experienced upward momentum. Premarket trading figures indicated a 3.11% increase, with the stock priced at $14.60 on Monday, according to data from Benzinga Pro.
Key Points
- Jason Chung will assume the role of CFO on March 1, 2026, succeeding Colin Yee.
- Riot Platforms mined 428 Bitcoin in November 2025, averaging 14.3 Bitcoin daily, with an efficient power cost of 4.0 cents per kilowatt-hour.
- The company’s third-quarter revenue and earnings exceeded analyst forecasts.
- Riot’s Bitcoin holdings were 19,368 at the end of November 2025 and 19,287 at the end of the third quarter.
- Riot reported strong liquidity with $330.7 million in unrestricted cash at the end of the third quarter.
Risks and Uncertainties
- The CFO transition presents a potential risk to continuity, although measures are in place for a smooth handover.
- Bitcoin price volatility could impact the valuation of the company's large cryptocurrency holdings.
- Operational efficiency must be maintained to keep power costs competitive amid fluctuating energy markets.
- Future capital allocation and growth execution depend on effective financial strategy leadership under the new CFO.