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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As filed with the U.S. Securities and Exchange
Commission on November 15, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No. 333-</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT><B><BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM S-8</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>UNDER </I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>THE SECURITIES ACT OF 1933</I></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RIOT BLOCKCHAIN, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant, as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center"><B>Nevada</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>84-1553387</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: -5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: -5.4pt; padding-left: 5.4pt; text-align: center"><B>202 6th Street, Suite 401 Castle Rock, CO</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>80104</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">Riot Blockchain, Inc. 2019 Equity Incentive Plan, as Amended</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Full title of the plan)</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.05in"><B>Jeffrey McGonegal</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.05in"><B>Chief Financial Officer</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.05in"><B>202 6th Street, Suite 401</B></P>
    <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Castle Rock, CO 80104</P></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name and address of agent for service)</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-weight: bold">(303) 794-2000</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Telephone number of agent for service)</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B><I>With copies to:</I></B></TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>William R. Jackman, General Counsel</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.05in"><B>Riot Blockchain, Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.05in"><B>202 6th Street, Suite 401</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Castle Rock, CO 80104</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Phone: (303) 794-2000</B></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Scott Y. MacTaggart</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Lewis Roca Rothgerber Christie LLP</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3993 Howard Hughes Parkway, Suite 600</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Las Vegas, NV 89169 </B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Phone: (702) 474-2610</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: -5.1pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-right: -5.4pt; padding-left: 5.4pt; text-align: left">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: -5.1pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: left">Large accelerated filer</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -5.7pt; padding-left: 5.4pt; text-align: left">Accelerated filer</TD>
    <TD COLSPAN="2" STYLE="padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; text-align: left">Non-accelerated filer</TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#254;</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -5.7pt; padding-left: 5.4pt; text-align: left">Smaller reporting company</TD>
    <TD COLSPAN="2" STYLE="padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Wingdings">&#254;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -5.7pt; padding-left: 5.4pt; text-align: left">Emerging growth company</TD>
    <TD COLSPAN="2" STYLE="padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: -5.1pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="vertical-align: top; padding-right: -5.4pt; padding-left: 5.4pt; text-align: left">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="16" STYLE="text-align: center; font-weight: bold"><U>CALCULATION OF REGISTRATION FEE</U></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="16" STYLE="text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify; font-weight: bold">Title of securities to be registered</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: center"><B>Amount</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: center"><B>to be registered<SUP>(1)</SUP></B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.2pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.3pt 0 3pt; text-align: center"><B>Proposed</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.3pt 0 3pt; text-align: center"><B>maximum offering price per share </B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -6.9pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3pt; text-align: center"><B>Proposed</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3pt; text-align: center"><B>maximum aggregate offering price</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.1in; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Amount of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.3pt; text-align: center"><B>registration fee</B></P></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">Common stock, no par value per share </TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.05in; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -4.2pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; padding-left: 3.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -6.9pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; padding-left: 2.7pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.1in; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: left">-Reserved for issuance under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended</TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.05in; text-align: center">7,900,000</TD>
    <TD STYLE="vertical-align: top; padding-right: -4.2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 3.4pt; text-align: left">$</TD>
    <TD STYLE="vertical-align: top; text-align: right">41.04<SUP>(2)</SUP></TD>
    <TD STYLE="vertical-align: top; padding-right: -6.9pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-left: 2.7pt; text-align: left">$</TD>
    <TD STYLE="vertical-align: top; text-align: right">324,216,000<SUP>(2)</SUP></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.1in; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left">$</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: right">30,054.82<SUP>(2)</SUP></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="7" STYLE="padding-right: -5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: -6.9pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-right: -7.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: -0.1in; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: -0.9pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center">(1)</TD>
    <TD COLSPAN="15" STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.7pt 0 4.8pt; text-align: justify">Riot Blockchain, Inc., a Nevada corporation
    (the &ldquo;Registrant&rdquo;), is filing this Registration Statement on Form S-8 to register 7,900,000 shares of its common stock, no
    par value per share (the &ldquo;Common Stock&rdquo;), for issuance under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended
    (the &ldquo;2019 Equity Plan&rdquo;). Pursuant to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
    this Registration Statement shall also cover an indeterminate number of additional shares of the Registrant&rsquo;s Common Stock as may
    become issuable pursuant to the anti-dilution and other adjustment provisions of the 2019 Equity Plan by reason of any stock split, stock
    dividend, recapitalization or similar transaction effected without the receipt of consideration that results in a change in the number
    of outstanding shares of the Registrant&rsquo;s Common Stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.7pt 0 4.8pt; text-align: justify">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">(2)</TD>
    <TD COLSPAN="15" STYLE="vertical-align: top; padding-right: 2.7pt; padding-left: 4.8pt; text-align: justify">Estimated in accordance
with Rules 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee covering the additional 7,900,000
shares of common stock to be registered pursuant to this Registration Statement on Form S-8, based on the average of the high and low
prices of the Registrant&rsquo;s Common Stock, as reported on the Nasdaq Capital Market on November 12, 2021.</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 37%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 96%; padding-right: -0.9pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>EXPLANATORY NOTE</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">REGISTRATION OF ADDITIONAL SECURITIES PURSUANT
TO GENERAL INSTRUCTION E OF FORM S-8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Riot Blockchain, Inc., a Nevada
corporation (&ldquo;Riot,&rdquo; the &ldquo;Registrant,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; or &ldquo;our&rdquo;),
is filing this Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) with the U.S. Securities and Exchange Commission
(the &ldquo;Commission&rdquo;) to register an additional 7,900,000 shares of its common stock, no par value per share (the &ldquo;Common
Stock&rdquo;) for issuance with respect to equity awards made under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended (the
&ldquo;2019 Equity Plan&rdquo;). These 7,900,000 additional shares of Common Stock have been reserved for issuance under the 2019 Equity
Plan pursuant to the First Amendment and Second Amendment to the 2019 Equity Plan, as approved by the Registrant&rsquo;s stockholders
at the 2020 annual meeting of stockholders on November 12, 2020, and the 2021 annual meeting of stockholders on October 19, 2021, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Registrant filed a Registration
Statement on Form S-8 (File No. 333-235355) with the Commission on December 5, 2019 (the &ldquo;Prior Registration Statement&rdquo;) to
register 3,930,603 shares of its Common Stock reserved for issuance with respect to equity awards made under the 2019 Equity Plan, which
included 3,600,000 shares reserved for issuance under the 2019 Equity Plan and 330,603 shares originally reserved for issuance under the
Company's prior 2017 equity incentive plan that, pursuant to the terms of the 2019 Equity Plan, was terminated and replaced in its entirety
by the upon the adoption of the 2019 Equity Plan, as approved by the Company's stockholders at the 2019 annual meeting of stockholders
on October 23, 2019. The Prior Registration Statement is currently effective. The Registration Statement relates to securities of the
same class as those to which the Prior Registration Statement relates and is submitted in accordance with General Instruction E of Form
S-8 regarding the registration of additional securities. Pursuant to General Instruction E of Form S-8, the Registrant hereby incorporates
by reference into and makes a part of this Registration Statement the contents of the Prior Registration Statement relating to the 2019
Equity Plan, including periodic reports that the Registrant filed after the Prior Registration Statement became effective to maintain
current information about the Registrant, except as amended by this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">PART I</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Information required by Part I of Form S-8 to be contained
in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 of the Securities Act. The documents
containing the information specified in Part I will be delivered to the participants in the 2019 Equity Plan as required by Rule 428(b)
of the Securities Act. Such documents are not being filed with the Commission as part of this Registration Statement or as prospectuses
or prospectus supplements pursuant to Rule 424 of the Securities Act.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">PART II</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Commission permits us to &ldquo;incorporate by
reference&rdquo; the information contained in documents we file with the Commission, which means that we can disclose important information
to you by referring you to those documents rather than by including them in this Registration Statement. Information that is incorporated
by reference herein is considered to be part of this Registration Statement and you should read it with the same care that you read this
Registration Statement. Information that we file later with the Commission will automatically update and supersede the information that
is either contained, or incorporated by reference, in this Registration Statement, and will be considered to be a part of this Registration
Statement from the date those documents are filed. We have filed with the Commission, and incorporate by reference in this Registration
Statement the following filed with the Commission:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Our <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000221/riot10k1220.htm" STYLE="-sec-extract: exhibit">Annual Report on&nbsp;Form 10-K for the fiscal year ended December 31, 2020</A>, as filed with the Commission
on March 31, 2021<FONT STYLE="color: blue"><U>,</U></FONT>&nbsp;as amended by a filing made with the Commission
on <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000326/riot_10kaixb-123120.htm" STYLE="-sec-extract: exhibit">April 30, 2021</A>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Our Quarterly Reports on Form 10-Q for the quarterly periods ended&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000383/riot10qq1-0321.htm" STYLE="-sec-extract: exhibit">March
31, 2021</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000828/riot10qq2-0621.htm" STYLE="-sec-extract: exhibit">June 30, 2021</A>, and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1167419/000107997321001156/riot10qq3-0921.htm" STYLE="-sec-extract: exhibit">September 30, 2021</A>, as filed with the Commission on May 17, 2021,
August 23, 2021, and November 15, 2021, respectively;</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Our
Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed to be furnished and not filed, as provided therein)
filed with the Commission on:&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000074/riot_8k-pilot.htm" STYLE="-sec-extract: exhibit">February 10, 2021</A> (excluding Item 8.01);&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000184/riot_8k-0321.htm" STYLE="-sec-extract: exhibit">March 17, 2021</A>;&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000253/riot_8k-040621.htm" STYLE="-sec-extract: exhibit">April 7, 2021</A>&nbsp;(excluding Item
7.01);&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000264/riot_8k-040821v2.htm" STYLE="-sec-extract: exhibit">April 9, 2021</A>; <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000272/riot_8k-041221.htm" STYLE="-sec-extract: exhibit">April 12, 2021</A> (excluding Item 7.01); &nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000412/riot_8k.htm" STYLE="-sec-extract: exhibit">May 24, 2021</A> (excluding Item 8.01);&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000426/riot_8k-052621.htm" STYLE="-sec-extract: exhibit">May 26, 2021</A>&nbsp;(excluding
Item 7.01 and Item 8.01), as amended by a filing made with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000745/riot_8ka-v3.htm" STYLE="-sec-extract: exhibit">August 12, 2021</A>;&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000481/riot_8k-060721.htm" STYLE="-sec-extract: exhibit">June 8, 2021</A>; <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000790/riot_8k-081621.htm" STYLE="-sec-extract: exhibit">August 16, 2021</A>; <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321001053/riot_8k-102221.htm" STYLE="-sec-extract: exhibit">October
22, 2021</A> (excluding Item 7.01 and Item 8.01); and <A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321001103/riot_8k-110821.htm" STYLE="-sec-extract: exhibit">November 8, 2021</A> (excluding Item 7.01 and Item 8.01); and</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">The description of our common stock contained in our registration statement on&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997307000759/apnb_form8a-082207.htm" STYLE="-sec-extract: exhibit">Form
8-A</A>, filed with the Commission pursuant to Section 12(b) of the Exchange Act of 1934, as amended, (the &ldquo;Exchange Act&rdquo;)
on August 27, 2007, including any amendment or report filed for the purpose of updating that description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All documents filed by the Registrant pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing
of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date
of filing such documents, except as to specific sections of such documents as set forth therein. Unless expressly incorporated into this
Registration Statement, a report furnished on Form 8-K prior or subsequent to the filing of this Registration Statement shall not be deemed
incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
contained in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Nevada Revised Statutes Sections 78.7502 and 78.751
provide us with the power to indemnify any of our directors and officers. The director or officer must have conducted himself/herself
in good faith and reasonably believe that his/her conduct was in, or not opposed to, our best interests. In a criminal action, the director,
officer, employee or agent must not have had reasonable cause to believe his/her conduct was unlawful. Under Nevada Revised Statutes Section
78.751, advances for expenses may be made by agreement if the director or officer affirms in writing that he/she believes he/she has met
the standards and will personally repay the expenses if it is determined such officer or director did not meet the standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Articles of Incorporation provide that our officers
and directors shall be indemnified and held harmless to the fullest extent legally permissible under the laws of the State of Nevada against
all expenses, liability and loss (including attorneys&rsquo; fees, judgments, fines and amounts paid or to be paid in settlement) reasonably
incurred or suffered by them in connection with any civil, criminal, administrative or investigative action, suit or proceeding related
to their service as an officer or director. Such right of indemnification shall be a contractual right which may be enforced in any manner
desired by such person. We must pay the expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding
as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on
behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that he/she
is not entitled to be indemnified by us. Such right of indemnification shall not be exclusive of any other right which such directors
or officers may have or hereafter acquire. The indemnification provided in our Articles of Incorporation shall continue as to a person
who has ceased to be a director, officer, employee or agent, and shall inure to the benefit of the heirs, executors and administrators
of such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Articles of Incorporation also provide that we
may adopt bylaws to provide at all times the fullest indemnification permitted by the laws of the State of Nevada, and that we may purchase
and maintain insurance on behalf of any of our officers and directors. Our Bylaws provide that a director or officer shall have no personal
liability to us or our stockholders for damages for breach of fiduciary duty as a director or officer, except for damages for breach of
fiduciary duty resulting from (a) acts or omissions which involve intentional misconduct, fraud, or a knowing violation of law, or (b)
the payment of dividends in violation of Nevada Revised Statutes Section 78.300. We also maintain general liability and directors&rsquo;
and officers&rsquo; insurance policies that cover certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Further, we have entered into employment agreements
with our executives which contain provisions requiring us to indemnify our executives from certain liabilities arising in the course of
their employment with us, and we may enter into similar indemnification agreements with each of our directors, executive officers, and
certain of our other employees in the future. Subject to limitations established under applicable Nevada law, federal securities laws,
our Articles of incorporation, and our Bylaws, these indemnification agreements may require us, among other things, to indemnify our directors
and executive officers for certain expenses and against certain liabilities including, among other things, attorneys&rsquo; fees, judgments,
fines, and settlement amounts actually and reasonably paid or incurred by such director or officer in any action, suit, or proceeding
arising out of their services as a director or officer or any other company or enterprise to which the person provides services at our
request. Subject to certain exceptions for breaches of fiduciary duty by such persons as described in the foregoing, these indemnification
agreements will also require us to advance certain expenses (including attorneys&rsquo; fees and disbursements) actually and reasonably
paid or incurred by these persons in advance of the final disposition of the action, suit, or proceeding. We believe these indemnification
agreements are necessary to attract and retain qualified individuals to serve as directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These limitations of liability do not alter director
liability under the federal securities laws and do not affect the availability of equitable remedies such as an injunction or rescission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
the Registrant has been informed that, in the opinion of the Commission, such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 8. EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -5.25pt; padding-left: 5.4pt; text-align: center"><B>Exhibit Number</B></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><B>Description of Exhibit</B></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Incorporated by Reference</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center"><B>Form</B></TD>
    <TD STYLE="vertical-align: bottom;  padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom;  border-bottom: Black 1pt solid; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center"><B>File No.</B></TD>
    <TD STYLE="vertical-align: bottom;  padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom;  border-bottom: Black 1pt solid; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center"><B>Exhibit</B></TD>
    <TD STYLE="vertical-align: bottom;  padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom;  border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><B>Filing Date</B></TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 6%; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.1</TD>
    <TD STYLE="vertical-align: top; width: 2%; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 48%; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997317000554/ex3x1.htm" STYLE="-sec-extract: exhibit">Articles of Incorporation</A></TD>
    <TD STYLE="vertical-align: top; width: 2%; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">8-K</TD>
    <TD STYLE="vertical-align: top; width: 2%; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 9%; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">001-33675</TD>
    <TD STYLE="vertical-align: top; width: 2%; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 6%; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">3.1</TD>
    <TD STYLE="vertical-align: top; width: 2%; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 16%; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">September 25, 2017</TD>
    <TD STYLE="padding-bottom: 12pt; width: 1%; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.2</TD>
    <TD STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997317000554/ex3x2.htm" STYLE="-sec-extract: exhibit">Bylaws</A></TD>
    <TD STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">8-K</TD>
    <TD STYLE="vertical-align: top; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">001-33675</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">3.2</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">September 25, 2017</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.3</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997318000146/ex3x1.htm" STYLE="-sec-extract: exhibit">Amendment to Bylaws</A></TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">8-K</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">001-33675</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">3.1</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">March 12, 2018</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.4</TD>
    <TD STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997319000627/ex4x5.htm" STYLE="-sec-extract: exhibit">Riot Blockchain, Inc. 2019 Equity Incentive Plan</A></TD>
    <TD STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">S-8</TD>
    <TD STYLE="vertical-align: top; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">333-235355</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">4.5</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">December 5, 2019</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.5*</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex4x5.htm">First Amendment to the Riot Blockchain, Inc. 2019 Equity Incentive Plan*</A></TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: bottom; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.6*</TD>
    <TD STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 1pt">+</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex4x6.htm">Second Amendment to the Riot Blockchain, Inc. 2019 Equity Incentive Plan*</A></TD>
    <TD STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.7*</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex4x7.htm">Form of Restricted Stock Unit Award Agreement under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended*</A></TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.8</TD>
    <TD STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997321000790/ex10x1.htm" STYLE="-sec-extract: exhibit">Form of Performance-Based Restricted Stock Unit Award Agreement under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended</A></TD>
    <TD STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">8-K</TD>
    <TD STYLE="vertical-align: top; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">001-33675</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">10.1</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">August 16, 2021</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.1*</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex5x1.htm">Opinion of Lewis Rocca Rothgerber Christie LLP*</A></TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">23.1*</TD>
    <TD STYLE="vertical-align: top; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex23x1.htm">Consent of Marcum LLP*</A></TD>
    <TD STYLE="vertical-align: top; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">23.3*</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="ex5x1.htm">Consent of Lewis Rocca Rothgerber Christie LLP (contained in Exhibit 5.1)*</A></TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #CCEEFF; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">24.1*</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -7.5pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><A HREF="#poa">Power of Attorney (included on the signature page of this Registration Statement on Form S-8)*</A></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -6pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: -1.5pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -3pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: -3.75pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="vertical-align: top; padding-right: -9.75pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</TD>
    <TD STYLE="padding-bottom: 12pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ITEM 9. UNDERTAKINGS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The undersigned Registrant hereby undertakes:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To include any prospectus required by section 10(a)(3) of the Securities
Act of 1933;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent
a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation
from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To include any material information with respect to the plan of distribution
not previously disclosed in the registration statement or any material change to such information in the registration statement</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in; text-align: justify">provided, however, Paragraphs (a)(1)(i),
(a)(1)(ii) and (a)(1)(iii) of this section do not apply if the registration statement is on Form S-3 and the information required to be
included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.&#9; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability under the Securities Act
of 1933 to any purchaser:&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Each prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall
be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration
statement; and&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5),
or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii),
or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part
of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness
or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability
purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the
registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of
such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in
a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document immediately prior to such effective date; or&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability of the Registrant under the
Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a
primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method
used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to
such purchaser:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Any preliminary prospectus or prospectus of the undersigned Registrant relating
to the offering required to be filed pursuant to Rule 424;&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Any free writing prospectus relating to the offering prepared by or on behalf
of the undersigned Registrant or used or referred to by the undersigned Registrant;&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The portion of any other free writing prospectus relating to the offering
containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant;
and&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Any other communication that is an offer in the offering made by the undersigned
Registrant to the purchaser.&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Registrant hereby undertakes that for purposes of determining any liability
under the Securities Act of 1933, each filing of the Registrant&rsquo;s annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to section
15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Act and will be governed by the final adjudication of such issue.&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Registrant hereby undertakes that:&#9; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">For purposes of determining any liability under the Securities Act, the
information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained
in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to
be part of this registration statement as of the time it was declared effective; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">For the purpose of determining any liability under the Securities Act, each
post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR></TABLE>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><A NAME="poa"></A>&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities Act
of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized,
on November 15, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 6pt"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">Dated: November 15,
2021</TD>
    <TD COLSPAN="2"><B>Riot Blockchain, Inc.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Jeffrey G. McGonegal</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Jeffrey G. McGonegal<BR>Chief Financial Officer <BR>(Principal Financial and
Accounting Officer)</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4in; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">POWER OF ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>KNOW ALL PERSONS BY THESE PRESENTS</B>, that the
registrant and each person whose signature appears below constitutes and appoints Messrs. Jason Les, Chief Executive Officer of the registrant,
and Jeffrey G. McGonegal, Chief Financial Officer of the Registrant, his, her, or its true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him, her or it and in his, her or its name, place and stead, in any and all capacities,
to sign and file any and all amendments (including post-effective amendments) to this registration statement on Form S-8, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done
in and about the premises, as fully to all intents and purposes as he, she, or it might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the Securities Act
of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the date indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Name</B></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 57%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Title</B></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Date</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Jason Les</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Chief Executive Officer (Principal Executive Officer) and Director</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Jason Les</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Jeffrey G. McGonegal</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Chief Financial Officer (Principal Financial and
    Accounting Officer)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Jeffrey G. McGonegal</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Benjamin Yi</TD>
    <TD STYLE="padding-bottom: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Executive Chairman (Director)</TD>
    <TD STYLE="padding-bottom: 1pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Benjamin Yi</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Hubert Marleau</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Director </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Hubert Marleau</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Hannah Cho</TD>
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    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Hannah Cho</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">/s/ Lance D&rsquo;Ambrosio</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Director</TD>
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    <TD STYLE="padding-right: -8.25pt; padding-left: 5.4pt; text-align: left">November 15, 2021</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">Lance D&rsquo;Ambrosio</TD>
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[{"type": "S-8", "sequence": "1", "filename": "riot_s8-111521.htm", "description": "FORM S-8", "secsgml_size_bytes": 98785}]
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As filed with the U.S. Securities and Exchange
Commission on November 15, 2021.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
RIOT BLOCKCHAIN, INC.
(Exact name of registrant, as specified in its charter)
Nevada
84-1553387
(State or other jurisdiction of incorporation)
(I.R.S. Employer Identification No.)
202 6th Street, Suite 401 Castle Rock, CO
80104
(Address of principal executive offices)
(Zip Code)
Riot Blockchain, Inc. 2019 Equity Incentive Plan, as Amended
(Full title of the plan)
Jeffrey McGonegal
Chief Financial Officer
202 6th Street, Suite 401
Castle Rock, CO 80104
(Name and address of agent for service)
(303) 794-2000
(Telephone number of agent for service)
With copies to:
William R. Jackman, General Counsel
Riot Blockchain, Inc.
202 6th Street, Suite 401
Castle Rock, CO 80104
Phone: (303) 794-2000
Scott Y. MacTaggart
Lewis Roca Rothgerber Christie LLP
3993 Howard Hughes Parkway, Suite 600
Las Vegas, NV 89169
Phone: (702) 474-2610
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
þ
Smaller reporting company
þ
Emerging growth company
o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
o
CALCULATION OF REGISTRATION FEE
Title of securities to be registered
Amount
to be registered
(1)
Proposed
maximum offering price per share
Proposed
maximum aggregate offering price
Amount of
registration fee
Common stock, no par value per share
-Reserved for issuance under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended
7,900,000
$
41.04
(2)
$
324,216,000
(2)
$
30,054.82
(2)
(1)
Riot Blockchain, Inc., a Nevada corporation
    (the "Registrant"), is filing this Registration Statement on Form S-8 to register 7,900,000 shares of its common stock, no
    par value per share (the "Common Stock"), for issuance under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended
    (the "2019 Equity Plan"). Pursuant to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
    this Registration Statement shall also cover an indeterminate number of additional shares of the Registrant's Common Stock as may
    become issuable pursuant to the anti-dilution and other adjustment provisions of the 2019 Equity Plan by reason of any stock split, stock
    dividend, recapitalization or similar transaction effected without the receipt of consideration that results in a change in the number
    of outstanding shares of the Registrant's Common Stock.
(2)
Estimated in accordance
with Rules 457(c) and (h) of the Securities Act solely for the purpose of calculating the registration fee covering the additional 7,900,000
shares of common stock to be registered pursuant to this Registration Statement on Form S-8, based on the average of the high and low
prices of the Registrant's Common Stock, as reported on the Nasdaq Capital Market on November 12, 2021.
EXPLANATORY NOTE
REGISTRATION OF ADDITIONAL SECURITIES PURSUANT
TO GENERAL INSTRUCTION E OF FORM S-8
Riot Blockchain, Inc., a Nevada
corporation ("Riot," the "Registrant," the "Company," "we," "us" or "our"),
is filing this Registration Statement on Form S-8 (this "Registration Statement") with the U.S. Securities and Exchange Commission
(the "Commission") to register an additional 7,900,000 shares of its common stock, no par value per share (the "Common
Stock") for issuance with respect to equity awards made under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended (the
"2019 Equity Plan"). These 7,900,000 additional shares of Common Stock have been reserved for issuance under the 2019 Equity
Plan pursuant to the First Amendment and Second Amendment to the 2019 Equity Plan, as approved by the Registrant's stockholders
at the 2020 annual meeting of stockholders on November 12, 2020, and the 2021 annual meeting of stockholders on October 19, 2021, respectively.
The Registrant filed a Registration
Statement on Form S-8 (File No. 333-235355) with the Commission on December 5, 2019 (the "Prior Registration Statement") to
register 3,930,603 shares of its Common Stock reserved for issuance with respect to equity awards made under the 2019 Equity Plan, which
included 3,600,000 shares reserved for issuance under the 2019 Equity Plan and 330,603 shares originally reserved for issuance under the
Company's prior 2017 equity incentive plan that, pursuant to the terms of the 2019 Equity Plan, was terminated and replaced in its entirety
by the upon the adoption of the 2019 Equity Plan, as approved by the Company's stockholders at the 2019 annual meeting of stockholders
on October 23, 2019. The Prior Registration Statement is currently effective. The Registration Statement relates to securities of the
same class as those to which the Prior Registration Statement relates and is submitted in accordance with General Instruction E of Form
S-8 regarding the registration of additional securities. Pursuant to General Instruction E of Form S-8, the Registrant hereby incorporates
by reference into and makes a part of this Registration Statement the contents of the Prior Registration Statement relating to the 2019
Equity Plan, including periodic reports that the Registrant filed after the Prior Registration Statement became effective to maintain
current information about the Registrant, except as amended by this Registration Statement.
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
Information required by Part I of Form S-8 to be contained
in the Section 10(a) prospectus is omitted from this Registration Statement in accordance with Rule 428 of the Securities Act. The documents
containing the information specified in Part I will be delivered to the participants in the 2019 Equity Plan as required by Rule 428(b)
of the Securities Act. Such documents are not being filed with the Commission as part of this Registration Statement or as prospectuses
or prospectus supplements pursuant to Rule 424 of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
The Commission permits us to "incorporate by
reference" the information contained in documents we file with the Commission, which means that we can disclose important information
to you by referring you to those documents rather than by including them in this Registration Statement. Information that is incorporated
by reference herein is considered to be part of this Registration Statement and you should read it with the same care that you read this
Registration Statement. Information that we file later with the Commission will automatically update and supersede the information that
is either contained, or incorporated by reference, in this Registration Statement, and will be considered to be a part of this Registration
Statement from the date those documents are filed. We have filed with the Commission, and incorporate by reference in this Registration
Statement the following filed with the Commission:
·
Our
Annual Report on Form 10-K for the fiscal year ended December 31, 2020
, as filed with the Commission
on March 31, 2021
,
as amended by a filing made with the Commission
on
April 30, 2021
;
·
Our Quarterly Reports on Form 10-Q for the quarterly periods ended
March
31, 2021
,
June 30, 2021
, and
September 30, 2021
, as filed with the Commission on May 17, 2021,
August 23, 2021, and November 15, 2021, respectively;
·
Our
Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed to be furnished and not filed, as provided therein)
filed with the Commission on:
February 10, 2021
(excluding Item 8.01);
March 17, 2021
;
April 7, 2021
(excluding Item
7.01);
April 9, 2021
;
April 12, 2021
(excluding Item 7.01);
May 24, 2021
(excluding Item 8.01);
May 26, 2021
(excluding
Item 7.01 and Item 8.01), as amended by a filing made with the Commission on
August 12, 2021
;
June 8, 2021
;
August 16, 2021
;
October
22, 2021
(excluding Item 7.01 and Item 8.01); and
November 8, 2021
(excluding Item 7.01 and Item 8.01); and
·
The description of our common stock contained in our registration statement on
Form
8-A
, filed with the Commission pursuant to Section 12(b) of the Exchange Act of 1934, as amended, (the "Exchange Act")
on August 27, 2007, including any amendment or report filed for the purpose of updating that description.
All documents filed by the Registrant pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this Registration Statement and prior to the filing
of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date
of filing such documents, except as to specific sections of such documents as set forth therein. Unless expressly incorporated into this
Registration Statement, a report furnished on Form 8-K prior or subsequent to the filing of this Registration Statement shall not be deemed
incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
contained in any subsequently filed document that also is deemed to be incorporated by reference herein modifies or supersedes such statement.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Nevada Revised Statutes Sections 78.7502 and 78.751
provide us with the power to indemnify any of our directors and officers. The director or officer must have conducted himself/herself
in good faith and reasonably believe that his/her conduct was in, or not opposed to, our best interests. In a criminal action, the director,
officer, employee or agent must not have had reasonable cause to believe his/her conduct was unlawful. Under Nevada Revised Statutes Section
78.751, advances for expenses may be made by agreement if the director or officer affirms in writing that he/she believes he/she has met
the standards and will personally repay the expenses if it is determined such officer or director did not meet the standards.
Our Articles of Incorporation provide that our officers
and directors shall be indemnified and held harmless to the fullest extent legally permissible under the laws of the State of Nevada against
all expenses, liability and loss (including attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably
incurred or suffered by them in connection with any civil, criminal, administrative or investigative action, suit or proceeding related
to their service as an officer or director. Such right of indemnification shall be a contractual right which may be enforced in any manner
desired by such person. We must pay the expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding
as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on
behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that he/she
is not entitled to be indemnified by us. Such right of indemnification shall not be exclusive of any other right which such directors
or officers may have or hereafter acquire. The indemnification provided in our Articles of Incorporation shall continue as to a person
who has ceased to be a director, officer, employee or agent, and shall inure to the benefit of the heirs, executors and administrators
of such person.
Our Articles of Incorporation also provide that we
may adopt bylaws to provide at all times the fullest indemnification permitted by the laws of the State of Nevada, and that we may purchase
and maintain insurance on behalf of any of our officers and directors. Our Bylaws provide that a director or officer shall have no personal
liability to us or our stockholders for damages for breach of fiduciary duty as a director or officer, except for damages for breach of
fiduciary duty resulting from (a) acts or omissions which involve intentional misconduct, fraud, or a knowing violation of law, or (b)
the payment of dividends in violation of Nevada Revised Statutes Section 78.300. We also maintain general liability and directors'
and officers' insurance policies that cover certain liabilities of our directors and officers arising out of claims based on acts
or omissions in their capacities as directors or officers, including liabilities under the Securities Act.
Further, we have entered into employment agreements
with our executives which contain provisions requiring us to indemnify our executives from certain liabilities arising in the course of
their employment with us, and we may enter into similar indemnification agreements with each of our directors, executive officers, and
certain of our other employees in the future. Subject to limitations established under applicable Nevada law, federal securities laws,
our Articles of incorporation, and our Bylaws, these indemnification agreements may require us, among other things, to indemnify our directors
and executive officers for certain expenses and against certain liabilities including, among other things, attorneys' fees, judgments,
fines, and settlement amounts actually and reasonably paid or incurred by such director or officer in any action, suit, or proceeding
arising out of their services as a director or officer or any other company or enterprise to which the person provides services at our
request. Subject to certain exceptions for breaches of fiduciary duty by such persons as described in the foregoing, these indemnification
agreements will also require us to advance certain expenses (including attorneys' fees and disbursements) actually and reasonably
paid or incurred by these persons in advance of the final disposition of the action, suit, or proceeding. We believe these indemnification
agreements are necessary to attract and retain qualified individuals to serve as directors and executive officers.
These limitations of liability do not alter director
liability under the federal securities laws and do not affect the availability of equitable remedies such as an injunction or rescission.
Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
the Registrant has been informed that, in the opinion of the Commission, such indemnification is against public policy as expressed in
the Act and is, therefore, unenforceable.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS
Exhibit Number
Description of Exhibit
Incorporated by Reference
Form
File No.
Exhibit
Filing Date
4.1
Articles of Incorporation
8-K
001-33675
3.1
September 25, 2017
4.2
Bylaws
8-K
001-33675
3.2
September 25, 2017
4.3
Amendment to Bylaws
8-K
001-33675
3.1
March 12, 2018
4.4
Riot Blockchain, Inc. 2019 Equity Incentive Plan
S-8
333-235355
4.5
December 5, 2019
4.5*
First Amendment to the Riot Blockchain, Inc. 2019 Equity Incentive Plan*
-
-
-
-
4.6*
+
Second Amendment to the Riot Blockchain, Inc. 2019 Equity Incentive Plan*
-
-
-
-
4.7*
Form of Restricted Stock Unit Award Agreement under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended*
-
-
-
-
4.8
Form of Performance-Based Restricted Stock Unit Award Agreement under the Riot Blockchain, Inc. 2019 Equity Incentive Plan, as amended
8-K
001-33675
10.1
August 16, 2021
5.1*
Opinion of Lewis Rocca Rothgerber Christie LLP*
-
-
-
-
23.1*
Consent of Marcum LLP*
-
-
-
-
23.3*
Consent of Lewis Rocca Rothgerber Christie LLP (contained in Exhibit 5.1)*
-
-
-
-
24.1*
Power of Attorney (included on the signature page of this Registration Statement on Form S-8)*
-
-
-
-
*filed herewith.
ITEM 9. UNDERTAKINGS
(a)
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i)
To include any prospectus required by section 10(a)(3) of the Securities
Act of 1933;
(ii)
To reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent
a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease
in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation
from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii)
To include any material information with respect to the plan of distribution
not previously disclosed in the registration statement or any material change to such information in the registration statement
provided, however, Paragraphs (a)(1)(i),
(a)(1)(ii) and (a)(1)(iii) of this section do not apply if the registration statement is on Form S-3 and the information required to be
included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.
(2)
That, for the purpose of determining any liability under the Securities
Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the offering.
(4)
That, for the purpose of determining liability under the Securities Act
of 1933 to any purchaser:
(i)
Each prospectus filed by the Registrant pursuant to Rule 424(b)(3) shall
be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration
statement; and
(ii)
Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5),
or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii),
or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part
of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness
or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability
purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the
registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of
such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in
a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document immediately prior to such effective date; or
(5)
That, for the purpose of determining liability of the Registrant under the
Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a
primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method
used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to
such purchaser:
(i)
Any preliminary prospectus or prospectus of the undersigned Registrant relating
to the offering required to be filed pursuant to Rule 424;
(ii)
Any free writing prospectus relating to the offering prepared by or on behalf
of the undersigned Registrant or used or referred to by the undersigned Registrant;
(iii)
The portion of any other free writing prospectus relating to the offering
containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant;
and
(iv)
Any other communication that is an offer in the offering made by the undersigned
Registrant to the purchaser.
(b)
The Registrant hereby undertakes that for purposes of determining any liability
under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section
15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Act and will be governed by the final adjudication of such issue.
(d)
The Registrant hereby undertakes that:
(1)
For purposes of determining any liability under the Securities Act, the
information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained
in a form of prospectus filed by the Registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to
be part of this registration statement as of the time it was declared effective; and
(2)
For the purpose of determining any liability under the Securities Act, each
post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
SIGNATURES
Pursuant to the requirements of the Securities Act
of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized,
on November 15, 2021.
Dated: November 15,
2021
Riot Blockchain, Inc.
By:
/s/ Jeffrey G. McGonegal
Jeffrey G. McGonegal
Chief Financial Officer
(Principal Financial and
Accounting Officer)
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS
, that the
registrant and each person whose signature appears below constitutes and appoints Messrs. Jason Les, Chief Executive Officer of the registrant,
and Jeffrey G. McGonegal, Chief Financial Officer of the Registrant, his, her, or its true and lawful attorney-in-fact and agent, with
full power of substitution and resubstitution, for him, her or it and in his, her or its name, place and stead, in any and all capacities,
to sign and file any and all amendments (including post-effective amendments) to this registration statement on Form S-8, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done
in and about the premises, as fully to all intents and purposes as he, she, or it might or could do in person, hereby ratifying and confirming
all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
Pursuant to the requirements of the Securities Act
of 1933, as amended, this registration statement has been signed below by the following persons in the capacities and on the date indicated.
Name
Title
Date
/s/ Jason Les
Chief Executive Officer (Principal Executive Officer) and Director
November 15, 2021
Jason Les
/s/ Jeffrey G. McGonegal
Chief Financial Officer (Principal Financial and
    Accounting Officer)
November 15, 2021
Jeffrey G. McGonegal
/s/ Benjamin Yi
Executive Chairman (Director)
November 15, 2021
Benjamin Yi
/s/ Hubert Marleau
Director
November 15, 2021
Hubert Marleau
/s/ Hannah Cho
Director
November 15, 2021
Hannah Cho
/s/ Lance D'Ambrosio
Director
November 15, 2021
Lance D'Ambrosio