Riot Platforms shares fall 9.25% premarket despite reporting record net income and revenue.

Riot Platforms, Inc. declined 9.25% in premarket trading. The company reported strong financial results for the second quarter of 2025, including a net income of $219.5 million and adjusted EBITDA of $495.3 million. However, the stock's decline may be attributed to the US appeals court overturning the first NFT insider trading conviction, which could have a negative impact on the company's reputation and investor sentiment.