Tokenized Riot Platforms ($RIOT) Now Available on Solana

Backpack expands its tokenized stock lineup on Solana with Riot Platforms ($RIOT). Each $RIOT token is tradable 24/7 and redeemable 1:1 for a traditional share of Riot Platforms (Nasdaq: RIOT) through Backpack Securities.

Token details

About Riot Platforms

Riot Platforms, Inc. (Nasdaq: RIOT) is a digital infrastructure company headquartered in Castle Rock, Colorado. It owns and runs large-scale data center campuses in central Texas and Kentucky, where it mines bitcoin and, increasingly, leases capacity to outside tenants for AI and high-performance computing workloads. It reports through three segments: Bitcoin Mining, Data Center, and Engineering, the last covering electrical transmission and distribution work from facilities in Denver and Houston.

Moving between $RIOT and traditional RIOT shares

$RIOT and traditional Riot Platforms, Inc. (Nasdaq: RIOT) shares are convertible 1:1 through Backpack Exchange. The flow works the same way as depositing or withdrawing a stablecoin.

Withdraw a share of Riot Platforms from Backpack Exchange to tokenize it into $RIOT on Solana.

Deposit $RIOT from a Solana wallet to Backpack Exchange to convert it back into the underlying RIOT share held in Backpack Securities.

How to trade $RIOT

You can trade Backpack-issued $RIOT on Solana using Backpack Wallet.

$RIOT is also accessible across the Solana ecosystem, including decentralized exchanges, aggregators, wallets, and apps such as Backpack, fomo, Titan, Jupiter, Phantom, Solflare, Raydium, Kamino, and others.

Unlike most tokenized stocks that only track a price, tokenized securities issued by Backpack, including $RIOT, are:

• Redeemable 1:1 for real underlying shares
• Transferable to traditional brokerages