Riot Platforms Inc

RIOT remains in a Stage 4 decline under distribution, trading below declining EMAs with failed reclaim attempts. The medium-term bias is bearish, reinforced by the Lower Highs & Lower Lows continuation pattern and lack of mean-reversion eligibility. Short-term execution is favorable for sell-side engagement as no exhaustion is evident. We will sell now on rallies into the falling 9/21 EMA resistance zone.

• ↑AMD 50 MW lease secured $636 M revenue potential, reducing CAPEX to $3.3 M/MW
• ↑Q1 2026 operating leases yielded 91% gross margin on $900 K revenue
• ↓Q1 2026 net loss of $500 M from Bitcoin valuation swings