BTBT vs. RIOT

Last updated Jun 24, 2026

BTBT (Bit Digital, Inc.) and RIOT (Riot Platforms, Inc.) are both stocks. BTBT operates in Capital Markets (Financial Services), while RIOT operates in Software - Application (Technology). Over the past 5 years, BTBT returned -20.48%/yr vs -3.35%/yr for RIOT. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

BTBT vs. RIOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bit Digital, Inc. (BTBT) and Riot Platforms, Inc. (RIOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTBT achieves a 13.23% return, which is significantly lower than RIOT's 126.44% return.

BTBT

• 1D: -4.04%
• 1M: 7.54%
• YTD: 13.23%
• 6M: 1.42%
• 1Y: -7.76%
• 3Y*: -21.06%
• 5Y*: -20.48%
• 10Y*: —

RIOT

• 1D: 0.21%
• 1M: 17.15%
• YTD: 126.44%
• 6M: 109.88%
• 1Y: 209.49%
• 3Y*: 35.24%
• 5Y*: -3.35%
• 10Y*: 24.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTBT vs. RIOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BTBT Bit Digital, Inc.	13.23%	-35.49%	-30.73%	605.00%	-90.13%	-72.25%	5,377.50%	-93.85%	25.00%
RIOT Riot Platforms, Inc.	126.44%	24.09%	-34.00%	356.34%	-84.82%	31.43%	1,416.96%	-25.83%	-82.07%

Correlation

The correlation between BTBT and RIOT is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018	0.55

The correlation between BTBT and RIOT shifts across timeframes, from 0.55 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BTBT : $696.87M RIOT : $9.97B
EPS BTBT : -$498.30 RIOT : -$2.35
PS Ratio BTBT : 0.02 RIOT : 16.19
PB Ratio BTBT : 0.00 RIOT : 4.16
Total Revenue (TTM) BTBT : $28.01B RIOT : $653.27M
Gross Profit (TTM) BTBT : $48.37M RIOT : $179.76M
EBITDA (TTM) BTBT : -$162.09B RIOT : -$482.33M

Return for Risk

BTBT vs. RIOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTBT

BTBT Risk / Return Rank: 41
BTBT Sharpe Ratio Rank: 39
BTBT Sortino Ratio Rank: 45
BTBT Omega Ratio Rank: 43
BTBT Calmar Ratio Rank: 39
BTBT Martin Ratio Rank: 40

RIOT

RIOT Risk / Return Rank: 88
RIOT Sharpe Ratio Rank: 93
RIOT Sortino Ratio Rank: 87
RIOT Omega Ratio Rank: 85
RIOT Calmar Ratio Rank: 90
RIOT Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTBT vs. RIOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bit Digital, Inc. (BTBT) and Riot Platforms, Inc. (RIOT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BTBT	RIOT	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	2.52	-2.61
Sortino ratio: Return per unit of downside risk	0.57	2.78	-2.22
Omega ratio: Gain probability vs. loss probability	1.06	1.35	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.11	4.34	-4.45
Martin ratio: Return relative to average drawdown	-0.17	8.59	-8.76

BTBT vs. RIOT - Sharpe Ratio Comparison

The current BTBT Sharpe Ratio is -0.08, which is lower than the RIOT Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of BTBT and RIOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTBT vs. RIOT - Drawdown Comparison

The maximum BTBT drawdown since its inception was -98.16%, roughly equal to the maximum RIOT drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for BTBT and RIOT.

Drawdown Indicators

	BTBT	RIOT	Difference
Max Drawdown Largest peak-to-trough decline	-98.16%	-99.98%	+1.82%
Max Drawdown (1Y) Largest decline over 1 year	-70.02%	-48.57%	-21.45%
Max Drawdown (3Y) Largest decline over 3 years	-77.08%	-69.00%	-8.08%
Max Drawdown (5Y) Largest decline over 5 years	-96.92%	-92.55%	-4.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.32%	—
Current Drawdown Current decline from peak	-92.69%	-99.10%	+6.41%
Average Drawdown Average peak-to-trough decline	-75.66%	-87.85%	+12.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.30%	24.49%	+20.81%

Volatility

BTBT vs. RIOT - Volatility Comparison

Bit Digital, Inc. (BTBT) has a higher volatility of 23.99% compared to Riot Platforms, Inc. (RIOT) at 18.61%. This indicates that BTBT's price experiences larger fluctuations and is considered to be riskier than RIOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTBT	RIOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.99%	18.61%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	61.73%	60.82%	+0.91%
Volatility (1Y) Calculated over the trailing 1-year period	93.09%	83.62%	+9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.53%	93.65%	+23.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	133.71%	112.18%	+21.53%

Dividends

BTBT vs. RIOT - Dividend Comparison

Neither BTBT nor RIOT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTBT Bit Digital, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RIOT Riot Platforms, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%

Financials

Frequently Asked Questions

Can I hold both BTBT and RIOT in my portfolio?

BTBT and RIOT have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTBT or RIOT?

BTBT has higher volatility (23.99%) compared to RIOT (18.61%). In terms of maximum drawdown, BTBT dropped -98.16% vs RIOT's -99.98%.

Which has better risk-adjusted returns?

RIOT currently has the higher Sharpe Ratio (2.52 vs -0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.