Riot’s AI-Fueled Bitcoin Mining Rally Triggers CEO’s Trading Plan to Cash Out $4.2M
Riot Platforms (NASDAQ: RIOT) CEO Jason Les sold approximately $4.2 million worth of company stock on Monday under a pre-arranged trading plan, as the Bitcoin miner’s shares continue a sharp rally tied to investment enthusiasm around AI and high-performance computing infrastructure.
A Form-144 filing on Monday Les sold 175,000 shares of Riot Platforms common stock on May 11 through J.P. Morgan Securities. The shares carried an aggregate market value of roughly $4.21 million based on the filing.
The sale was executed by the Jason M. Les Trust, for which Les serves as trustee, and was conducted pursuant to a Rule 10b5-1 trading plan adopted on Aug. 25, 2025.
Riot’s stock climbed about 5% on Monday and has surged roughly 100% year to date as investors view Bitcoin miners with large-scale power assets as potential AI and high-performance computing infrastructure plays.
The transaction comes as Riot continues expanding beyond its core Bitcoin mining business into hyperscale and AI infrastructure initiatives, including a previously announced expansion of its partnership with Advanced Micro Devices at Riot’s Rockdale, Texas campus.
Riot disclosed in its third-quarter 2025 filing that Les’ 10b5-1 plan authorized the potential sale of up to 1.05 million shares between Dec. 1, 2025 and Nov. 2, 2026, subject to minimum stock-price thresholds.
Monday’s filing also stated that Les had not sold any other Riot securities during the prior three months.
Other Riot executives have also adopted active 10b5-1 trading plans.
Chief Financial Officer Colin Yee entered into a plan on Sept. 4, 2025 permitting the sale of up to 48,577 shares beginning April 1, 2026 through April 1, 2027. Chief Accounting Officer Ryan Werner adopted a separate plan on Dec. 2, 2025 covering up to 469,434 shares, with sales allowed between March 3, 2026 and Feb. 16, 2027, also subject to minimum stock-price thresholds.
Rule 10b5-1 plans allow corporate insiders to pre-schedule stock transactions in order to reduce legal risks associated with trading while potentially in possession of material nonpublic information.
