Summary by Moomoo AI
Riot Platforms, Inc., a leading Bitcoin mining company, has filed a Current Report on Form 8-K to recast historical financial information following the elimination of its Data Center Hosting Segment. The recast affects the Annual Report on Form 10-K for the year ended December 31, 2023, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. The Data Center Hosting Segment was discontinued after terminating all related contracts as of January 1, 2024, resulting in the segment no longer meeting reportable segment criteria. Consequently, the company will not offer data center hosting services to new customers. The recast financial information aligns with the recognition of data center hosting activities within 'Other' in segment-related disclosures. The change did not impact the company's consolidated financial statements previously reported. Riot Platforms will incorporate the updated information into future SEC filings, including registration statements under the Securities Act of 1933. The recast is not an amendment or restatement of prior reports but reflects the historical results of the eliminated segment and corresponding changes in reporting structure.
