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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 4in"><FONT STYLE="font-size: 11pt">Registration
No. 333-_______________</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">FORM
S-8</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933</FONT></P>

<P STYLE="font:  10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Riot
Blockchain, Inc.</B><BR>(Exact name of registrant as specified in its charter)</FONT></P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 11pt"><B>Nevada<BR>
    </B>(State or other jurisdiction <BR>
    of incorporation number)</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 11pt"><B>84-1553387<BR>
    </B>(I.R.S. Employer<BR>
    Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Riot
Blockchain, Inc.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">202
6<SUP>th</SUP> Street, Suite 401</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Castle
Rock, CO 80104<BR>
<FONT STYLE="font-weight: normal">(Address of principal executive offices) (Zip Code)</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt"><U>The
Riot Blockchain, Inc. 2019 Equity Incentive Plan</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt; font-weight: normal">(Full
title of the plan)</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Jeffrey
G. McGonegal</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Chief
Executive Officer</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">202
6<SUP>th</SUP> Street, Suite 401</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Castle
Rock, CO 80104</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">(Name and address
of agent for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt"><U>(303)
794-2000</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">(Telephone number,
including area code, of agent for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt"><I>With
copies to: </I></FONT></P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">William
                                         R. Jackman, Esq.</FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Rogers
        Towers, P.A.</FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">1500
        Riverplace Blvd., Suite 1500</FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">Jacksonville,
        FL 32207</FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">(904)
        398-3911</FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>Benjamin
                                         W. Kennedy</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>Dickinson
        Wright PLLC</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>100
        W. Liberty St., Suite 940</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>Reno,
        NV 89501</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt"><B>(775)
        343-7504</B></FONT></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">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. (Check one):</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">&nbsp;Large accelerated
filer [_]</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;Accelerated filer [X]</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;Non-accelerated filer [_]</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;Smaller reporting company [X]</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;Emerging Growth Company [_]</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Do not check if a smaller reporting company)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">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 13(a) of the Exchange Act. <FONT STYLE="font-family: Segoe UI Symbol,sans-serif">[_]</FONT></FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">CALCULATION
OF REGISTRATION FEE</FONT></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Title of Securities to be Registered</TD><TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Amount to be registered<SUP>(1) (2)</SUP></FONT></TD><TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Proposed maximum offering price per share<SUP>(3)</SUP></FONT></TD><TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Proposed maximum aggregate offering price<SUP>(3)</SUP></FONT></TD><TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 11pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">Amount of Registration Fee<SUP>(4)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 18%; font-family: Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">Common Stock,</FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">no par value</FONT></P></TD><TD STYLE="width: 3%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 18%; font: 11pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt">3,930,603 shares</TD><TD STYLE="width: 3%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 16%; font: 11pt Times New Roman, Times, Serif; text-align: right">1.33</TD><TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 11pt Times New Roman, Times, Serif; text-align: right">5,227,701.99</TD><TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 11pt Times New Roman, Times, Serif; text-align: right">678.56</TD><TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Pursuant
                                         to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
                                         this registration statement also covers an indeterminate amount of interests to be offered
                                         or sold in connection with any stock split, stock dividend or similar transaction, or
                                         anti-dilution or other adjustment pursuant to the employee benefit plan described herein.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Includes
                                         330,603 shares available for issuance under the Registrant&rsquo;s former employee equity
                                         incentive plan, the Bioptix, Inc. 2017 Stock Incentive Plan, which are available for
                                         issuance under the 2019 Plan, of which 120,500 shares are being offered for resale by
                                         the Selling Stockholders listed in Part II, below.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">In
                                         accordance with Rule 457(n) under the Securities Act, the maximum offering price per
                                         share and the proposed maximum aggregate offering price are estimated based on the average
                                         of the $1.36 (high) and $1.30 (low) sale price of the Registrant&rsquo;s Common Stock,
                                         no par value, as reported on the Nasdaq Capital Market on December 2, 2019, which date
                                         is within five business days prior to filing this Registration Statement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Estimated
                                         solely for the purpose of calculating the registration fee in accordance with Rule 457(h)
                                         under the Securities Act based on the average of the high and low trading prices of a
                                         share of common stock of the registrant on the Nasdaq Capital Market on December 2, 2019.</FONT></TD></TR></TABLE>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">EXPLANATORY
NOTE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">This
registration statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) registers shares of common stock, no par value,
(the &ldquo;Shares&rdquo;) of Riot Blockchain, Inc. (&ldquo;Riot,&rdquo; the &ldquo;Registrant,&rdquo; the &ldquo;Company,&rdquo;
&ldquo;we,&rdquo; &ldquo;us&rdquo; or &ldquo;our&rdquo;) including:</FONT></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">3,600,000
                                         Shares that may be granted pursuant to the 2019 Riot Blockchain, Inc. Equity Incentive
                                         Plan (the &ldquo;2019 Plan&rdquo;); 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: 0.5in"><FONT STYLE="font-size: 11pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">330,603
                                         Shares (the &ldquo;Carryover Shares&rdquo;), formerly available for grant pursuant the
                                         Registrant&rsquo;s former employee equity incentive plan, the Bioptix, Inc. 2017 Equity
                                         Incentive Plan (the &ldquo;2017 Plan&rdquo;), which, by the terms of the 2019 Plan, are
                                         available for issuance under the 2019 Plan. These Carryover Shares include: </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: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">a.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">120,500
                                         Shares held by &ldquo;affiliates,&rdquo; which are &ldquo;control securities,&rdquo;
                                         issued to the Selling Stockholders listed below pursuant to the 2017 Plan, which are
                                         being registered for resale to the public by the &ldquo;Selling Stockholders&rdquo; listed
                                         herein pursuant to this Registration Statement and the accompanying reoffer prospectus
                                         (discussed below); and </FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">b.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">210,103
                                         Shares issuable in settlement of outstanding restricted stock units and other convertible
                                         rights granted to employees, officers, and directors of the Registrant pursuant to the
                                         2017 Plan to be offered by the Selling Stockholders listed in the reoffer prospectus
                                         below. Under the 2019 Plan, a total of 3,600,000 Shares have been reserved for issuance
                                         upon the settlement of vested stock awards (which may include awards of restricted stock,
                                         restricted stock units, options, or other securities relating to Shares) made to officers,
                                         directors, employees and consultants of the Company, as well as those Shares formerly
                                         available for issuance pursuant to the 2017 Plan. The 2019 Plan provides that, as of
                                         the date of approval of the 2019 Plan by the Registrant&rsquo;s stockholders, which occurred
                                         on October 23, 2019, no additional grants will be made under the 2017 Plan. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">This
Registration Statement also includes a reoffer prospectus (the &ldquo;Reoffer Prospectus&rdquo;) prepared in accordance with General
Instruction C of Form S-8 and in accordance with the requirements of Part I of Form S-3. The Reoffer Prospectus may be used in
connection with the reoffer and resale of our securities registered hereunder by the Selling Stockholders identified in the Reoffer
Prospectus (the &ldquo;Selling Stockholders&rdquo;), some of whom may be considered &ldquo;affiliates&rdquo; of the Company, as
defined in Rule 405 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The number of Shares included
in the Reoffer Prospectus represents the total number of Shares held by the Selling Stockholders, as well as the those that may
be acquired by the Selling Stockholders pursuant to restricted stock unit awards made to the Selling Stockholders by the Registrant,
and does not necessarily represent a present intention to sell any or all such Shares by the Selling Stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt; letter-spacing: 0.25pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">PART
I</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">INFORMATION
REQUIRED IN THE SECTION 10(A) PROSPECTUS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">This
Registration Statement relates to two separate prospectuses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal"><U>Section
10(a) Prospectus</U>: Items 1 and 2, from this page, and the documents incorporated by reference pursuant to Part II, Item 3 of
this prospectus, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal"><U>Reoffer
Prospectus</U>: The material that follows Item 2, beginning on Page 1 through Page 10, up to but not including Part II of this
Registration Statement, beginning on Page II-1, of which the Reoffer Prospectus is a part, constitutes a &ldquo;Reoffer Prospectus,&rdquo;
prepared in accordance with the requirements of Part I of Form S-3 under the Securities Act. Pursuant to General Instruction C
of Form S-8, the Reoffer Prospectus may be used for reoffers or resales of Shares which are deemed to be &ldquo;control securities&rdquo;
or &ldquo;restricted securities&rdquo; under the Securities Act that have been acquired by the Selling Stockholders named in the
Reoffer Prospectus.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-size: 11pt">Item 1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Plan
                                         Information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Company
will provide each recipient (the &ldquo;Recipients&rdquo;) of a grant under the 2019 Plan with documents that contain information
related to the 2019 Plan, and other information including, but not limited to, the disclosure required by Item 1 of Form S-8,
which information is not required to be and is not being filed as a part of this Registration Statement or as prospectuses or
prospectus supplements pursuant to Rule 424 under the Securities Act. The foregoing information and the documents incorporated
by reference in response to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act. A Section 10(a) prospectus will be given to each Recipient who receives
Shares covered by this Registration Statement, in accordance with Rule 428(b)(1) under the Securities Act.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-size: 11pt">Item 2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Registrant
                                         Information and Employee Plan Annual Information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">We will
provide to each Recipient a written statement advising of the availability of documents incorporated by reference in Item 3 of
Part II of this Registration Statement (which documents are incorporated by reference in this Section 10(a) prospectus) and of
documents required to be delivered pursuant to Rule 428(b) under the Securities Act without charge and upon written or oral request
by contacting:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 11pt">Jeffrey
G. McGonegal<BR>
Chief Executive Officer<BR>
Riot Blockchain, Inc.<BR>
202 6<SUP>th</SUP> Street, Suite 401<BR>
Castle Rock, CO 80104<BR>
Telephone: (303) 794-2000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">REOFFER
PROSPECTUS<BR>
<FONT STYLE="font-family: Sans-Serif; color: Red"><B><IMG SRC="logo.jpg" ALT=""></B></FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">RIOT
BLOCKCHAIN, INC.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">202
6<SUP>th</SUP> Street, Suite 401<BR>
Castle Rock, CO 80104<BR>
Telephone: (303) 794-2000<BR>
<BR>
3,930,603 Shares of Common Stock</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">This
Reoffer Prospectus relates to 3,930,603 shares of our common stock, no par value (the &ldquo;Shares&rdquo;), that may be offered
and resold from time to time by the selling stockholders identified in this Reoffer Prospectus (the &ldquo;Selling Stockholders&rdquo;)
for their own account. Some of the Selling Stockholders are &ldquo;affiliates&rdquo; of the Company, as defined by Rule 405 under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders were issued grants of stock, which they hold of their own account, as well as restricted stock, restricted stock
units, options, and other convertible rights (the &ldquo;Stock Rights&rdquo;) which were convertible, upon vesting and settlement
by the Company, into Shares pursuant to the 2017 Plan. The Company will issue Shares of our under the Registration Statement of
which this Reoffer Prospectus forms a part to the Selling Stockholders in settlement of the Stock Rights held by the Selling Stockholders
on a one-for-one basis pursuant to the 2019 Plan and the term of their individual award agreements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">It is
anticipated that the Selling Stockholders will offer the Shares issued to them for sale at prevailing prices on The NASDAQ Capital
Market on the date of sale; however, the Selling Stockholders may also sell the Shares issues to them in various other types of
transactions, such as, for example, sales in negotiated transactions through underwriters. For a description of the various methods
by which the Selling Stockholders may offer and sell their Shares described in this Reoffer Prospectus, see the section entitled
&ldquo;Plan of Distribution&rdquo; of this Reoffer Prospectus. We will receive no part of the proceeds from sales made under this
Reoffer Prospectus. The Selling Stockholders will bear all sales commissions and similar expenses. Any other expenses incurred
by us in connection with the registration and offering will be borne by us and will not borne by the Selling Stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Some
of the Shares issued pursuant to the 2019 Plan in settlement of awards granted to the Selling Stockholders will be &ldquo;control
securities&rdquo; under the Securities Act before their sale under this Reoffer Prospectus. This Reoffer Prospectus has been prepared
for the purposes of registering the Shares (including the Shares issuable upon settlement of the Stock Rights) under the Securities
Act to allow for future sales by the Selling Stockholders on a continuous or delayed basis to the public without restriction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders and any brokers executing selling orders on their behalf may be deemed to be &ldquo;underwriters&rdquo; within the
meaning of the Securities Act, in which event commissions received by such brokers may be deemed to be underwriting commissions
under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Our common
stock is traded on The NASDAQ Capital Market under the symbol &ldquo;RIOT&rdquo;. On December 3, 2019, the closing price of our
common stock on such market was $1.32 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Our
business and an investment in our securities involve a high degree of risk. Before making any investment in our securities, you
should read and carefully consider risks described in the &ldquo;Risk Factors&rdquo; section beginning on page 3 of this Reoffer
Prospectus, as well as those disclosed in our most recent annual report on Form 10-K, as amended.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; text-transform: uppercase"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this Reoffer Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">The date
of this Reoffer Prospectus is December 4, 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT>&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">TABLE
OF CONTENTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 6pt 0"><FONT STYLE="font-size: 11pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 11pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%">PROSPECTUS SUMMARY</TD>
    <TD STYLE="width: 10%; text-align: right; vertical-align: middle">1</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD>ABOUT RIOT BLOCKCHAIN&#9;</TD>
    <TD STYLE="text-align: right; vertical-align: middle">1</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD>THE OFFERING</TD>
    <TD STYLE="text-align: right; vertical-align: middle">3</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD>RISK FACTORS</TD>
    <TD STYLE="text-align: right; vertical-align: middle">3</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD>CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS</TD>
    <TD STYLE="text-align: right; vertical-align: middle">3</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD>USE OF PROCEEDS</TD>
    <TD STYLE="text-align: right; vertical-align: middle">5</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD>DETERMINATION OF OFFERING
PRICE</TD>
    <TD STYLE="text-align: right; vertical-align: middle">5</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD>SELLING STOCKHOLDERS</TD>
    <TD STYLE="text-align: right; vertical-align: middle">5</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 11pt">PLAN OF DISTRIBUTION</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle">7</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">LEGAL MATTERS</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle">9</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD>EXPERTS</TD>
    <TD STYLE="text-align: right; vertical-align: middle">9</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD>INTERESTS OF NAMED EXPERTS
AND COUNSEL</TD>
    <TD STYLE="text-align: right; vertical-align: middle">9</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 11pt">INCORPORATION OF CERTAIN
DOCUMENTS BY REFERENCE</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle">9</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: White">
    <TD><FONT STYLE="font-size: 11pt">DISCLOSURE OF COMMISSION
POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle">10</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 11pt">WHERE YOU CAN FIND MORE
INFORMATION</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle">10</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 6pt 0"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 6pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; text-transform: uppercase"><B>You
should rely only on the information contained in this Reoffer Prospectus. We have not authorized any other person to provide you
with information that is different from that contained in this Reoffer Prospectus. If anyone provides you with different or inconsistent
information, you should not rely on it. We take no responsibility for, and can provide no assurance as to the reliability of,
any other information that others may give you. You should assume that the information contained in this Reoffer Prospectus is
accurate only as of the date of this Reoffer Prospectus, regardless of the time of delivery of this Reoffer Prospectus or of any
sale of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.
We are not making an offer of any securities PURSUANT TO THIS PROSPECTUS. The Selling Stockholders are offering to sell and seeking
offers to buy these securities only in jurisdictions where offers and sales are permitted.</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">PROSPECTUS
SUMMARY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The following
summary highlights selected information contained in this Reoffer Prospectus. This summary does not contain all the information
you should consider before investing in the securities. Before making an investment decision, you should read the entire Reoffer
Prospectus carefully, including the section entitled &ldquo;Risk Factors&rdquo; before deciding to invest in our common stock.
In this Reoffer Prospectus, unless otherwise noted, &ldquo;Riot,&rdquo; &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo;
and &ldquo;our&rdquo; refer to Riot Blockchain, Inc.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt; letter-spacing: 0pt">ABOUT
RIOT BLOCKCHAIN</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: left"><FONT STYLE="font-size: 11pt; letter-spacing: 0pt"><I>Company
Background</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal; letter-spacing: 0pt">The
Company was incorporated on July 24, 2000 in the State of Colorado under the name AspenBio, Inc., which was subsequently changed
to AspenBio Pharma, Inc. In December 2012, we changed our name to Venaxis, Inc. and in 2016, in connection with our acquisition
of BiOptix Diagnostics, Inc., we changed our name to Bioptix, Inc. and, as of October 19, 2017, we changed our name to Riot Blockchain,
Inc., to reflect our new focus on our blockchain business. That operational focus and the Company&rsquo;s acquisitions of Kairos
Global Technologies, Inc. (&ldquo;Kairos&rdquo;) and TessPay, Inc., formerly known as 1172767 B.C. Ltd., and its investments in
Coinsquare, Ltd., formerly known as goNumerical Ltd., and Verady, LLC, as well as the Company&rsquo;s new name, reflects a strategic
decision by the Company to operate in the blockchain and digital currency related business sector. As of the date of this filing,
the Company&rsquo;s ownership of TessPay, Inc., has been reduced below 10%. On March 26, 2018, the Company also acquired 92.5%
of Logical Brokerage Corp. (&ldquo;Logical Brokerage&rdquo;). Logical Brokerage is a futures introducing broker headquartered
in Ft. Lauderdale, Florida registered with the Commodity Futures Trading Commission, and a member of the National Futures Association.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal; letter-spacing: 0pt">In
October 2017, we changed our state of incorporation to Nevada from Colorado. Our principal executive offices are located at 202
6th Street, Suite 401, Castle Rock, CO 80104 and our telephone number is (303) 794-2000. Our website address is www.riotblockchain.com.
The information contained on, or accessible through, our website is not part of this Reoffer Prospectus.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">Digital
Currency Mining Operations</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt"><U>Overview
of Mining Operations</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Company&rsquo;s
mining operations focus primarily on bitcoin mining. Bitcoin mining entails solving complex mathematical problems using custom
designed and programmed application-specific integrated circuit computers (referred to as &ldquo;miners&rdquo;). Bitcoin miners
provide transaction verification services to a given blockchain by solving complex algorithms to encode additional blocks into
the blockchain, which blocks serve as immutable records of transactions once added to the blockchain. When a miner is successful
in adding a block to the blockchain, it is rewarded with a fixed number of bitcoin. Blocks are added to the blockchain on a first-to-finish
basis, meaning that the first miner to solve an algorithm and verify a given transaction is the only miner to receive a bitcoin
reward. This first-to-finish environment has created a computing power arms race whereby miners are encouraged through competition
to allocate ever-increasing computing power (known as &ldquo;hash rate&rdquo;) to solving algorithms. The resulting energy costs
are substantial, and, in light of the recent decline in the market price of bitcoin and other &ldquo;benchmark&rdquo; digital
currencies such as bitcoin cash, litecoin, and ethereum, the profitability of mining operations has been reduced as competition
increases to solve each block.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">In response
to these factors, the Company has entered into mining pools, whereby multiple miners allocate their collective computing powers
to solving a given algorithm thereby increasing the collective hash rate devoted to a given algorithm. By pooling their efforts,
miners in a pool are more likely to verify a given transaction and add a block to the Blockchain than miners acting individually.
Pool miners are awarded a fractional reward based on the hash rate each contributed to the pool on a given successful transaction,
regardless of whether the individual miner actually solved the applicable algorithm. Miners are allocated a share of every reward
obtained by the pool operator, and thus the risk of not solving the algorithm first is reduced. The Company participates in pools
on an at-will basis, and is under no obligation to remain in a given pool and may terminate its engagement with a given pool at
any time. Presently, management believes participating in mining pools is the most efficient means of mining digital currencies,
but is under no obligation, nor does it provide any assurance that it will continue to do so in the future.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt"><U>Oklahoma
City Mining Facility</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">Beginning
in February of 2018, we relocated our mining operations to our Oklahoma City facility, which is leased by our subsidiary, Kairos.
As of the date of this Reoffer Prospectus, our approximate 8,000 digital currency &ldquo;miners,&rdquo; which includes 7,500 model
S9 and 500 model L3+ miners operate in our Oklahoma City facility. These miners have been installed and operational since being
deployed in early 2018. In December of 2019, the Company purchased 3,000 Antminer S17 Pro digital currency miners from Bitmaintech
PTE, LTD. (&ldquo;<B>Bitmain</B>&rdquo;), which offer substantially improved power usage efficiency in the production of bitcoin
over previous models. The Company expects to begin installation of the new Antminer S17 Pro digital currency miners as soon as
they are delivered to the Oklahoma City facility by Bitmain.</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">Development
of a U.S.-based Digital Currency Exchange</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Company
has been investigating and pursuing the regulatory pathway for the launch of a digital currency exchange in the United States
since the beginning of 2018. The Company&rsquo;s planned digital currency exchange under the name &ldquo;RiotX&rdquo; is being
developed by and is contemplated to be operated through the Company&rsquo;s subsidiary, RiotX Holdings, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">THE
OFFERING</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Shares of common stock outstanding prior to this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">24,802,116</FONT></TD><TD STYLE="text-align: left">(1)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-left: 5.4pt">Shares being offered by the Selling Stockholders</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">120,500</TD><TD STYLE="width: 5%; text-align: left">(2)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 5.4pt">Shares of common stock to be outstanding after the offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 11pt">24,922,616</FONT></TD><TD STYLE="text-align: left">(1)(2)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December 4, 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assumes
the settlement of all restricted stock unit grants and options awarded to the Selling Stockholders in shares of our common stock
on a one for one basis and the subsequent sale by the Selling Stockholders of all of the shares of our common stock issued to
them by the Company and registered for resale to the public under the Registration Statement accompanying this Reoffer Prospectus.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Use
    of proceeds</FONT></TD>
    <TD STYLE="width: 74%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">We
    will not receive any proceeds from the sale of the shares of common stock offered in this Reoffer Prospectus.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Risk
    Factors</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">The
    purchase of our common stock involves a high degree of risk. You should carefully review and consider &ldquo;Risk Factors&rdquo;
    beginning on page 3 of this Reoffer Prospectus.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">NASDAQ
    Symbol</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">RIOT</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">RISK
FACTORS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Investing
in our common stock involves a high degree of risk. Before making an investment decision, you should consider carefully the risks,
uncertainties and other factors described under &ldquo;Risk Factors&rdquo; in our most recent Annual Report on Form 10-K for the
year ended December 31, 2018, filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on April 2, 2019, as amended
on Form 10-K/A, filed with the SEC on April 23, 2019, as supplemented and updated by subsequent Quarterly Reports on Form 10-Q,
together with the financial or other information contained or incorporated by reference in such reports, and Current Reports on
Form 8-K that we have filed or will file with the SEC, which are incorporated by reference into this Reoffer Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Our business,
affairs, prospects, assets, financial condition, results of operations and cash flows could be materially and adversely affected
by these risks. For more information about our SEC filings, please see the section entitled &ldquo;Where You Can Find More Information&rdquo;
on page 10 of this Reoffer Prospectus.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal">Certain
statements in this Reoffer Prospectus may be forward-looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and are subject to the safe harbor created thereby. All statements other
than statements of historical fact are statements that could be deemed forward-looking statements. These statements relate to
future events or the Company&rsquo;s future performance and include statements regarding expectations, beliefs, plans, intentions
and strategies of the Company. In some cases, forward-looking statements can be identified by terminology such as &ldquo;may,&rdquo;
&ldquo;will,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;plan,&rdquo;
&ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential&rdquo;
or other comparable terminology. These forward-looking statements are made based on management&rsquo;s expectations and beliefs
concerning future events affecting the Company as of the date of the filing of this Reoffer Prospectus and are subject to uncertainties
and factors relating to operations and the business environment, all of which are difficult to predict and many of which are beyond
management&rsquo;s control. Accordingly, you should not place undue reliance on these forward-looking statements, as actual results,
performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements
due to a variety of risks, uncertainties and other factors, including, but not limited to, the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         history of operating losses and our ability to achieve or sustain profitability;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         recent shift to an entirely new business and our ability to succeed in this new business;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">intense
                                         competition;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         ability to raise additional capital needed to finance our business;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">general
                                         economic conditions in the U.S. and globally;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         ability to maintain the value and reputation of our brand;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         ability to attract and retain senior management and other qualified personnel;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">cryptocurrency-related
                                         risks, including regulatory changes or actions and uncertainty regarding acceptance and/or
                                         widespread use of virtual currency;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">risks
                                         relating to our virtual currency mining operations, including among others, risks associated
                                         with the need for significant electrical power, cybersecurity risks and risk of increased
                                         world-wide competition for a fixed number of bitcoin reward levels;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         dependence in large part upon the value of virtual currencies, especially bitcoin, which
                                         have historically been subject to significant volatility in their market prices;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">risks
                                         relating to our planned establishment of a virtual currency exchange, including, among
                                         others, regulatory requirements and challenges and security threats;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         ability to protect our intellectual property rights;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">volatility
                                         in the trading price of our common stock;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         ability to maintain the Nasdaq listing of our common stock;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">our
                                         investments in other virtual currency and blockchain focused companies may not be realizable;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">legal
                                         proceedings to which we are subject, or associated with, including actions by private
                                         plaintiffs and the SEC, for which we may face significant potential liability that may
                                         not be adequately covered by insurance or indemnity; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt 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: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">the
                                         risks and, uncertainties discussed in Part II. Item 1A. &ldquo;Risk Factors&rdquo; included
                                         in this Reoffer Prospectus and Part I, Item 1A. &ldquo;Risk Factors&rdquo; in our Annual
                                         Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April
                                         2, 2019, as amended on Form 10-K/A, filed with the SEC on April 23, 2019, as supplemented
                                         and updated by subsequent Quarterly Reports on Form 10-Q together with the financial
                                         or other information contained or incorporated by reference in such reports, and Current
                                         Reports on Form 8-K that we have filed or will file with the SEC, which are incorporated
                                         by reference into this Reoffer Prospectus.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal">Accordingly,
you should read this Reoffer Prospectus completely and with the understanding that our actual future results may be materially
different from what we expect. Additional risks and uncertainties not known to us or that we currently believe not to be material
may adversely impact our business, financial condition, results of operations and cash flows. Should any risks or uncertainties
develop into actual events, these developments could have a material adverse effect on our business, financial condition, results
of operations and cash flows. The forward-looking statements contained in this Reoffer Prospectus speak only as of the date of
filing of this Reoffer Prospectus and, unless otherwise required by applicable securities laws, the Company disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">USE
OF PROCEEDS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Shares
offered by the Selling Stockholders pursuant to this Reoffer Prospectus are being registered for the account of the Selling Stockholders
named in this Reoffer Prospectus. As a result, all proceeds from the sales of the Shares will go to the Selling Stockholders and
we will not receive any proceeds from the resale of the Shares by the Selling Stockholders.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">DETERMINATION
OF OFFERING PRICE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders may sell their Shares pursuant to this Reoffer Prospectus from time-to-time at prices and at terms according to the
then prevailing market price for shares of our Shares, or in negotiated transactions.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">SELLING
STOCKHOLDERS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The table
below sets forth, as of December 4, 2019, (i) the number of Shares held of record or beneficially owned by the Selling Stockholders
as of such date (as determined below) and (ii) the number of Shares that may be sold or otherwise disposed of under this Reoffer
Prospectus by each Selling Stockholder (including those Shares which may be issued in settlement of those Stock Rights held by
the Selling Stockholders). Beneficial ownership includes Shares plus any securities held by the holder exercisable for or convertible
into Shares within sixty (60) days after December 4, 2019, in accordance with Rule 13d-3(d)(1) under the Exchange Act. The inclusion
of any Shares in this table does not constitute an admission of beneficial ownership by the Selling Stockholders named below.
We do not know when or in what amounts a Selling Stockholder may sell or otherwise dispose of the Shares covered hereby. The Selling
Stockholders identified below may have sold, transferred or otherwise disposed of some or all of their Shares in transactions
exempt from or not subject to the registration requirements of the Securities Act since the date on which the information in the
following table was provided to us. Information concerning the Selling Stockholders may change from time to time and, we will,
as appropriate, supplement this Reoffer Prospectus in order to reflect grants under the 2019 Plan and/or to update the list of
Selling Stockholders and the number of Shares being offered. The Selling Stockholders may not sell or otherwise dispose of any
or all of the Shares offered pursuant to this Reoffer Prospectus and they may sell or otherwise dispose of shares covered hereby
in transactions exempt from the registration requirements of the Securities Act. Because the Selling Stockholders may sell or
otherwise dispose of some, all or none of the Shares covered hereby, and because there are currently no agreements, arrangements
or understandings with respect to the sale of any of the Shares, we cannot estimate the number of the Shares that will be held
by the Selling Stockholders after completion of the offering contemplated by this Reoffer Prospectus. However, for purposes of
the following table, we have assumed that all of the Shares covered hereby are sold by the Selling Stockholders pursuant to this
Reoffer Prospectus. We will not receive any proceeds from the resale of the Shares by the Selling Stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">All Selling
Stockholders named are current officers or directors of the Company. All of the Selling Stockholders received their Shares being
offered pursuant to this Reoffer Prospectus in return for services rendered to the Company. Unless otherwise indicated below,
to our knowledge, all persons named in the table have sole voting and investment power with respect to their Shares, except to
the extent authority is shared by their spouses under applicable law. Unless otherwise indicated below, to our knowledge, no persons
named in the table are a broker-dealer or affiliate of a broker-dealer. Unless otherwise indicated, each Selling Shareholder&rsquo;s
mailing address is: c/o Riot Blockchain, Inc., 202 6<SUP>th</SUP> Street, Suite 401, Castle Rock, CO 80104.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; padding-left: 0.25pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 14%; padding-right: 0.1pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Number of Shares <BR>
    Beneficially Owned Prior to Offering</B></FONT></TD>
    <TD STYLE="width: 16%; padding-right: 0.7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Percentage of Common Stock
    Beneficially Owned Before Resale(1)**</B></FONT></TD>
    <TD STYLE="width: 16%; padding-right: 0.7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Shares Offered in this Offering(2)(3)</B></FONT></TD>
    <TD STYLE="width: 15%; padding-right: 2.15pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Number of Shares Beneficially
    Owned After this Offering(1)</B></FONT></TD>
    <TD STYLE="width: 16%; padding-right: -2.45pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt"><B>Percentage of Shares <BR>
    Beneficially <BR>
    Owned After this Offering**</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt">Remo Mancini</FONT></TD>
    <TD STYLE="padding-right: 10.05pt; text-align: center"><FONT STYLE="font-size: 11pt">76,500</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD>
    <TD STYLE="padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">76,500</FONT></TD>
    <TD STYLE="padding-right: 7.9pt; text-align: center"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.35pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt">Jason Les</FONT></TD>
    <TD STYLE="padding-right: 10.05pt; text-align: center"><FONT STYLE="font-size: 11pt">42,000</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD>
    <TD STYLE="padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">27,000</FONT></TD>
    <TD STYLE="padding-right: 7.9pt; text-align: center"><FONT STYLE="font-size: 11pt">15,000</FONT></TD>
    <TD STYLE="padding-right: 3.35pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt">Benjamin Yi</FONT></TD>
    <TD STYLE="padding-right: 10.05pt; text-align: center"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD>
    <TD STYLE="padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="padding-right: 7.9pt; text-align: center"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.35pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.25pt; text-align: justify"><FONT STYLE="font-size: 11pt">Jeffrey G. McGonegal</FONT></TD>
    <TD STYLE="padding-right: 10.05pt; text-align: center"><FONT STYLE="font-size: 11pt">38,701</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD>
    <TD STYLE="padding-right: 6.7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">17,000</FONT></TD>
    <TD STYLE="padding-right: 7.9pt; text-align: center"><FONT STYLE="font-size: 11pt">21,701</FONT></TD>
    <TD STYLE="padding-right: 3.35pt; text-align: center"><FONT STYLE="font-size: 11pt">*</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25pt; text-align: justify; padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">Total</FONT></TD>
    <TD STYLE="padding-right: 10.05pt; text-align: center; padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 6.7pt; text-align: center; padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6.7pt; text-align: justify; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120,500</FONT></TD>
    <TD STYLE="padding-right: 7.9pt; text-align: center; padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.35pt; text-align: center; padding-bottom: 2.5pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding-left: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 20.2pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 20.2pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">*Less
than 1%</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">** Based
upon 24,802,116 shares of Shares issued and outstanding as of December 4, 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beneficial
ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect
to securities. Shares of Common Stock underlying options currently exercisable, or exercisable, or restricted stock units that
vest, within 60 days after December 4, 2019, (as used in this section, the &ldquo;Determination Date&rdquo;), are deemed outstanding
for purposes of computing the beneficial ownership of the person holding such options and/or restricted stock units but are not
deemed outstanding for computing the beneficial ownership of any other person. Except where we had knowledge of such ownership,
the number presented in this column may not include shares held in street name or through other entities over which the selling
stockholder has voting and dispositive power.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assumes
the exercise and sale of all Shares issues in the settlement of all Stock Rights held by the Selling Stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
(i) 108,187 Shares issuable in settlement of 108,187 vested restricted stock units held by the Selling Stockholders, (ii) 12,000
Shares issuable upon the exercise of 12,000 vested stock options, and (iii) 313 Shares issuable in settlement of 313 restricted
stock units which vest within sixty (60) days of the filing of this Reoffer Prospectus, which vest in December 2019.</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">PLAN
OF DISTRIBUTION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Timing of Sales</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders may offer and sell the Shares covered by this Reoffer Prospectus at various times while the Registration Statement
to which this Reoffer Prospectus relates remain effective. The Selling Stockholders will act independently of the Company with
respect to the timing, manner and size of each sale.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">No Known Agreements to
<FONT STYLE="color: windowtext">Resell</FONT> the Shares</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">To our
knowledge, no Selling Stockholder has any agreement or understanding, directly or indirectly, with any person to resell the Shares
covered by this Reoffer Prospectus.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Offering <FONT STYLE="color: windowtext">Price</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The sales
price offered by the Selling Stockholders to the public may be:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 11pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
market price prevailing at the time of sale;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 11pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
price related to such prevailing market price;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 11pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
price negotiated by such Selling Stockholder in a negotiated sale; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 11pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
other price as the Selling Stockholders determine from time to time.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Manner of Sale</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Shares
may be sold by whatever permissible means selected by the Selling Stockholders, including by one or more of the following methods:</FONT></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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">a
                                         block trade in which the broker-dealer so engaged will attempt to sell the Shares as
                                         agent, but may position and resell a portion of the block as principal to facilitate
                                         the transaction;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">2.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Purchases
                                         by a broker-dealer as principal and resale by that broker-dealer for its account pursuant
                                         to this Reoffer Prospectus;</FONT></TD></TR></TABLE>
					 <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3<FONT STYLE="font-size: 11pt">.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">ordinary
brokerage transactions in which the broker solicits purchasers;</FONT></TD></TR></TABLE><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">4.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">directly
to purchasers at prevailing market prices or in negotiated sales;</FONT></TD></TR></TABLE><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">5.</FONT></TD>
    <TD STYLE="text-align: justify">t<FONT STYLE="font-size: 11pt">hrough options, swaps or derivatives;</FONT></TD></TR></TABLE><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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">6.</FONT></TD>
    <TD STYLE="text-align: justify">i<FONT STYLE="font-size: 11pt">n
transactions to cover short sales;</FONT></TD></TR></TABLE><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">7.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">privately negotiated transactions; or</FONT></TD></TR></TABLE><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt">8.</FONT></TD>
    <TD STYLE="text-align: justify">o<FONT STYLE="font-size: 11pt">n
a combination of any of the above methods.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders may sell their Shares directly to purchasers or they may use brokers, dealers, underwriters or agents to sell their
Shares. Brokers or dealers engaged by the Selling Stockholders may arrange for other brokers or dealers to participate in such
sales. Brokers or dealers may receive commissions, discounts or concessions from the Selling Stockholders, or, if any such broker-dealer
acts as agent for the purchaser of the Shares, from the purchaser in amounts to be negotiated immediately prior to the sale. The
compensation received by brokers or dealers may, but is not expected to, exceed that which is customary for the types of transactions
involved. The Company will bear none of the costs associated with such broker-dealer relationships on behalf of the Selling Stockholders,
except with regard to those costs we may incur from time to time to update this Reoffer Prospectus, if required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Broker-dealers
may agree with a Selling Stockholder to sell a specified number of their Shares at a stipulated price per Share, and, to the extent
the broker-dealer is unable to do so acting as agent for a Selling Stockholder, to purchase as principal any unsold Shares at
the price required to fulfill the broker-dealer commitment to the Selling Stockholder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Broker-dealers
who acquire stock as principal may thereafter resell the Shares they acquire from time to time in transactions, which may involve
block transactions and sales to and through other broker-dealers, including transactions of the nature described above, on The
NASDAQ Capital Market or otherwise at prices and on terms then prevailing at the time of sale, at prices related to the then-current
market price or in negotiated transactions. In connection with resales of the Shares, broker-dealers may pay to or receive from
the purchasers of Shares commissions as described above. If our Selling Stockholders enter into such arrangements with brokers-dealers
as described above, we will file a post-effective amendment to this registration statement disclosing such arrangements, including
the names of any broker-dealers acting as underwriters, and will update this Reoffer Prospectus, as required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Selling
Stockholders and any broker-dealers or agents that participate with the Selling Stockholders in the sale of the Shares may be
deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities Act. In that event, any commissions received by broker-dealers
or agents and any profit on the resale of the Shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">We will
make copies of this Reoffer Prospectus available to the Selling Stockholders for the purpose of satisfying the Reoffer Prospectus
delivery requirements of the Securities Act and we have notified the Selling Stockholders of the need to deliver a copy of this
Reoffer Prospectus in connection with any sale of the Shares pursuant to this Registration Statement.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Sales Pursuant to Rule
144</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Any Shares
covered by this Reoffer Prospectus which qualifies for sale pursuant to Rule 144 under the Securities Act may be sold in compliance
with Rule 144 rather than pursuant to this Reoffer Prospectus.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Regulation M</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Each
Selling Stockholder will be subject to the applicable provisions of the Exchange Act and the associated rules and regulations
under the Exchange Act, including Regulation M. The anti-market manipulation rules of Regulation M may limit the timing of purchases
and sales of the Shares by the Selling Stockholders. Regulation M may also restrict the ability of any person engaged in the distribution
of the Shares pursuant to this Reoffer Prospectus to engage in passive market-making activities with respect to such Shares. Passive
market-making involves transactions in which a market maker acts as both the underwriter and as a purchaser of the Shares in the
secondary market. All of the foregoing may limit the marketability of the Shares offered pursuant to this Reoffer Prospectus by
the Selling Stockholders and may also limit the ability of any person to engage in market-making activities with respect to such
Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Accordingly,
during such times as a Selling Stockholder may be deemed to be engaged in a distribution of the Shares, and therefore be considered
to be an underwriter, the Selling Stockholder must comply with applicable law and, among other things:</FONT></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: 0.3in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 11pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">may
                                         not engage in any stabilization activities in connection with our Securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify"><FONT STYLE="font-size: 11pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;may
not cover short sales by purchasing Shares while the distribution is taking place; and</FONT></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: 0.3in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 11pt">3.</FONT></TD><TD STYLE="text-align: justify; padding-right: 0.1in"><FONT STYLE="font-size: 11pt">may
                                         not bid for or purchase any of our securities or attempt to induce any person to purchase
                                         any of our securities other than as permitted under the Exchange Act.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 0 0.5in; text-align: justify; text-indent: -0.2in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 0 0; text-align: justify"><FONT STYLE="font-size: 11pt">Once
sold under the Registration Statement of which this Reoffer Prospectus forms a part, the Shares will be freely tradable by any
person other than our affiliates (including affiliates of our affiliates).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 0 0; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">State Securities Laws</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Under
the securities laws of some states, the Shares may be sold in such states only through registered or licensed brokers or dealers.
In addition, in some states the Shares may not be sold unless the Shares have been registered or qualified for sale in the state
or an exemption from registration or qualification is available and is complied with. If a Selling Stockholder intends to offer
our Shares in such a jurisdiction, the Selling Stockholder must do so in compliance with applicable law.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">Expenses of Registration</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">We are
bearing all costs relating to the registration of the Shares. These expenses are estimated to be $10,000 including, but not limited
to, legal, accounting, printing and mailing fees. The Selling Stockholders, however, will pay any commissions or other fees payable
to brokers or dealers in connection with any sale of the Shares.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">LEGAL
MATTERS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The validity
of the issuance of the securities offered hereby has been passed upon for us by Dickinson Wright PLLC of Reno, Nevada as stated
in their opinion, which is incorporated by reference herein. Additional legal matters may be passed upon for us or any underwriters,
dealers or agents, by counsel that we will name in the applicable Reoffer Prospectus supplement.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">EXPERTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The audited
financial statements of Riot Blockchain, Inc. and its consolidated subsidiaries, incorporated herein by reference, for the year
ended December 31, 2018, and the related consolidated statements of operations, stockholders&rsquo; equity, and cash flows for
the year then ended, and management&rsquo;s assessment of the effectiveness of internal control over financial reporting as of
December 31, 2018 have been audited by the Company&rsquo;s independent registered public accounting firm, Marcum, LLP, as stated
in their report, which is incorporated herein by reference. Such financial statements have been incorporated herein by reference
in reliance on the report of such firm given upon their authority as experts in accounting and auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The audited
financial statements of Riot Blockchain, Inc. and its consolidated subsidiaries, incorporated herein by reference, for the year
ended December 31, 2017, and the related consolidated statements of operations, stockholders&rsquo; equity, and cash flows for
the year then ended, have been audited by our former independent registered public accounting firm, MNP LLP, for the period and
to the extent set forth in their report. Such financial statements have been so incorporated herein by reference in reliance upon
the report of such firm given upon the firm&rsquo;s authority as an expert in auditing and accounting.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">INTERESTS
OF EXPERTS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">No expert
or counsel named in this Reoffer Prospectus as having prepared or certified any part of this Reoffer Prospectus or having given
an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration
or offering of the Shares was employed on a contingency basis or had, or is to receive, in connection with the offering, a substantial
interest, directly or indirectly, in the registrant or any of its parents or subsidiaries.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">MATERIAL
CHANGES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">There
have been no material changes in our affairs since the end of our last fiscal year on December 31, 2018, other than those changes
that have been described in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. See the
section below under the heading, &ldquo;Where You Can Find More Information.&rdquo;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Securities
and Exchange Commission permits us to &ldquo;incorporate by reference&rdquo; the information contained in documents we file with
the Securities and Exchange Commission, which means that we can disclose important information to you by referring you to those
documents rather than by including them in this Reoffer Prospectus. Information that is incorporated by reference herein is considered
to be part of this Reoffer Prospectus and you should read it with the same care that you read this Reoffer Prospectus. Information
that we file later with the Securities and Exchange Commission will automatically update and supersede the information that is
either contained, or incorporated by reference, in this Reoffer Prospectus, and will be considered to be a part of this Reoffer
Prospectus from the date those documents are filed. We have filed with the Securities and Exchange Commission, and incorporate
by reference in this Reoffer Prospectus the following filed with the SEC:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Annual Report on Form 10-K for the year ended December 31, 2018, filed on April 2, 2019,
                                         and the amendment thereto on Form 10-K/A, filed on April 23, 2019;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Quarterly Reports on Form 10-Q for the quarterly periods ended: March 31, 2019, filed
                                         on May 5, 2019; June 30, 2019, filed on August 8, 2019; and September 30, 2019, filed
                                         on November 12, 2019; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Definitive Proxy Statement on Form DEF-14A, filed on September 20, 2019; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed
                                         to be furnished and not filed) filed on February 1, 2019; February 11, 2019; February
                                         22, 2019; April 4, 2019; May 3, 2019; May 24, 2019; July 25, 2019; August 15, 2019; September
                                         30, 2019; October 28, 2019; and December 4, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019; 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: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The
                                         description of our common stock contained in our registration statement on Form 8-A,
                                         filed pursuant to Section 12(b) of the Exchange Act on August 27, 2007, including any
                                         amendment or report filed for the purpose of updating that description.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt">We
also incorporate by reference all additional documents that we file with the Securities and Exchange Commission under the terms
of Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act that are made after the date of effectiveness Registration Statement
and after the date of this Reoffer Prospectus but prior to the termination of the offering of the securities covered by this Reoffer
Prospectus. We are not, however, incorporating, in each case, any documents or information that we are deemed to furnish and not
file in accordance with Securities and Exchange Commission rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt">You
may request, and we will provide you with, a copy of these filings, at no cost, by calling us at (303) 794-2000 or by writing
to us at the following address: Riot Blockchain, Inc., Attn: Jeffrey G. McGonegal, CEO, 202 6<SUP>th</SUP> Street, Suite 401 Castle
Rock, CO 80104.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 11pt">DISCLOSURE
OF COMMISSION POSITION ON INDEMNIFICATION<BR>
FOR SECURITIES ACT LIABILITIES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">As permitted
by the Nevada Business Company Act, we have adopted provisions in our restated certificate of incorporation and restated by-laws
that limit or eliminate the personal liability of our directors and certain executive officers and employees of the Company. We
also maintain general liability insurance that covers 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. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and Riot controlling
persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by us of expenses incurred or paid
by a director, officer or controlling person of the Company 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, we will, unless in the opinion
of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center; text-indent: 0.25in"><FONT STYLE="font-size: 11pt"><B>WHERE
YOU CAN FIND MORE INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt">We
file annual, quarterly and special reports, along with other information with the SEC. Our SEC filings are available to the public
over the Internet at the SEC&rsquo;s website at http://www.sec.gov. You may also read and copy any document we file at the SEC&rsquo;s
Public Reference Room at 100 F Street, NE, Washington, D.C. 20549. You may also obtain this information from the SEC at the address
listed above or from the SEC&rsquo;s internet site, SEC.gov. Please call the SEC at 1-800-SEC-0330 for further information on
the Public Reference Room. Our SEC filings are also available on our website, https://ir.riotblockchain.com/under the heading
&ldquo;Investors.&rdquo; The information on this website is expressly not incorporated by reference into, and does not constitute
a part of, this Reoffer Prospectus.</FONT></P>


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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">REOFFER
PROSPECTUS<BR>
<FONT STYLE="font-family: Sans-Serif; color: Red"><B><IMG SRC="logo.jpg" ALT=""></B></FONT><BR>
RIOT BLOCKCHAIN, INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">202 6<SUP>th
</SUP>Street, Suite 401</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">Castle Rock,
Colorado 80104</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">(303) 794-2000</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">3,930,603 SHARES
OF COMMON STOCK</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">December
4, 2019</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: left"><FONT STYLE="font-size: 11pt; letter-spacing: 0.25pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">PART
II</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 3. INCORPORATION
OF DOCUMENTS BY REFERENCE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">The Securities
and Exchange Commission permits us to &ldquo;incorporate by reference&rdquo; the information contained in documents we file with
the Securities and Exchange 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 and the accompanying prospectus. 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 Reoffer Prospectus. Information that we file later with the Securities and Exchange 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 Securities
and Exchange Commission, and incorporate by reference herein the following documents filed with the SEC:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Annual Report on Form 10-K for the year ended December 31, 2018 filed on April 2, 2019
                                         and the amendment thereto on Form 10-K/A, filed on April 23, 2019;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Quarterly Reports on Form 10-Q for the quarterly periods ended: March 31, 2019, filed
                                         on May 5, 2019; June 30, 2019, filed on August 8, 2019; and September 30, 2019, filed
                                         on November 12, 2019; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Definitive Proxy Statement on Form 14A DEF, filed on September 20, 2019; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Our
                                         Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed
                                         to be furnished and not filed) filed on February 1, 2019; February 11, 2019; February
                                         22, 2019; April 4, 2019; May 3, 2019; May 24, 2019; July 25, 2019; August 15, 2019; September
                                         30, 2019; October 28, 2019; and December 4, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019; 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: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The
                                         description of our common stock contained in our registration statement on Form 8-A filed
                                         pursuant to Section 12(b) of the Exchange Act on August 27, 2007, including any amendment
                                         or report filed for the purpose of updating that description.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt">We
also incorporate by reference all additional documents that we file with the Securities and Exchange Commission under the terms
of Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act that are made after the date of effectiveness of this Registration Statement
and after the date of the prospectus accompanying it but prior to the termination of the offering of the securities covered by
such prospectuses. We are not, however, incorporating, in each case, any documents or information that we are deemed to furnish
and not file in accordance with Securities and Exchange Commission rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 11pt">You
may request, and we will provide you with, a copy of these filings, at no cost, by calling us at (303) 794-2000 or by writing
to us at the following address: Riot Blockchain, Inc., Attn: Jeffrey McGonegal, CEO, 202 6<SUP>th</SUP> Street, Suite 401 Castle
Rock, CO 80104.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 4. DESCRIPTION OF
SECURITIES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Not applicable.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 5. INTERESTS OF
NAMED EXPERTS AND COUNSEL</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">No expert
or counsel named in this Registration Statement as having prepared or certified any part of this Registration Statement or having
given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration
or offering of the Shares was employed on a contingency basis or had, or is to receive, in connection with the offering, a substantial
interest, directly or indirectly, in the registrant or any of its parents or subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 6. INDEMNIFICATION
OF DIRECTORS AND OFFICERS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">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 contract 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 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">Our
Articles of Incorporation provide that we may adopt bylaws to provide at all times the fullest indemnification permitted by the
laws of the State of Nevada, and may purchase and maintain insurance on behalf of any of officers and directors. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">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.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 7. EXEMPTION FROM
REGISTRATION CLAIMED</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">Not applicable.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 8. EXHIBITS</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; text-align: left"><FONT STYLE="font-size: 11pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="width: 3%; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 87%; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 11pt"><B>Number</B></FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 11pt"><B>Description of Document</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">4.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997317000554/ex3x1.htm" STYLE="-sec-extract: exhibit">Articles of Incorporation
    filed September 20, 2017 (Incorporated by reference from the Registrant&rsquo;s Current Report on Form 8-K, filed September
    25, 2017)</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">4.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997317000554/ex3x2.htm" STYLE="-sec-extract: exhibit">Bylaws, effective September
    20, 2017 (Incorporated by reference from the Registrant&rsquo;s Current Report on Form 8-K, filed September 25, 2017)</A></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">4.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1167419/000107997318000146/ex3x1.htm" STYLE="-sec-extract: exhibit">Amendment to Bylaws (incorporated
    by reference to 8-K filed March 12, 2018)</A></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">4.4</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt">Form of Certificate of Designation</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">4.5</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="ex4x5.htm">The Riot Blockchain, Inc. 2019 Equity Incentive Plan, as approved by the Registrant&rsquo;s stockholders on October 23, 2019, as reported on the Registrant&rsquo;s current report on Form 8-K filed October 28, 2019, as amended.</A></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">5.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="ex5x1.htm">Opinion of Dickinson Wright, PLLC</A></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">23.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="ex23x1.htm">Consent of Marcum LLP</A></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">23.2</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="ex232.htm">Consent of MNP LLP</A></FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">23.3</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt"><A HREF="ex5x1.htm">Consent of Dickinson Wright, PLLC (contained in Exhibit 5.1)</A></FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 11pt">24.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-size: 11pt">Power of Attorney (included on the signature
    page of this registration statement).</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt">ITEM 9. UNDERTAIKNGS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">(a)
The undersigned registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(i)
To include any prospectus required by section 10(a)(3) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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 Commission 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">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 Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of
1934, as amended (the &ldquo;Exchange Act&rdquo;) 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(2)
That, for the purpose of determining any liability under the Securities Act, 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. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(4)
That, for the purpose of determining liability under the Securities Act to any purchaser:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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 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</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(5)
That, for the purpose of determining liability of the registrant under the Securities Act 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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(i)
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant
to Rule 424;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 11pt; font-weight: normal">(iv)
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">(b)
The registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
registrant&rsquo;s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan&rsquo;s annual report pursuant to section 15(d) of the Exchange Act) 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">(c)
Insofar as indemnification for liabilities arising under the Securities Act 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 Securities 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 Securities Act and will be governed by the final adjudication of such issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal">(d)
The registrant hereby undertakes that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal">(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.</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">SIGNATURES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">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, in the City of Castle Rock, and State of Colorado, on the 4th day of December,
2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; 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"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt"><B>Riot Blockchain, Inc.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 11pt">By:&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 46%"><FONT STYLE="font-size: 11pt">/s/ Jeffrey G. McGonegal</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid"><FONT STYLE="font-size: 11pt">Jeffrey G. McGonegal<BR>Chief
    Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)</FONT></TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; letter-spacing: 0.25pt; text-align: center"><FONT STYLE="font-size: 11pt">POWER
OF ATTORNEY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">KNOW
ALL PERSONS BY THESE PRESENTS, that the registrant and each person whose signature appears below constitutes and appoints Jeffrey
G. McGonegal 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 11pt">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.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt"><U>/s/
    Jeffrey G. McGonegal<BR>
    </U>Jeffrey G. McGonegal</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Chief
    Executive Officer, <BR>
    (Principal Executive Officer)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">December
    4, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt"><U>/s/
    Jeffrey G. McGonegal<BR>
    </U>Jeffrey G. McGonegal</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Chief
    Financial Officer<BR>
    (Principal Financial and Accounting Officer)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">December
    4, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt"><U>/s/
    Remo Mancini<BR>
    </U>Remo Mancini</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Director
    and Chairman</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">December
    4, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt"><U>/
    /s/ Jason Les<BR>
    </U>Jason Les</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Director</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">December
    4, 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt"><U>/s/
    Benjamin Yi<BR>
    </U>Benjamin Yi</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 11pt">Director</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">December
    4, 2019</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></P>


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[{"type": "S-8", "sequence": "1", "filename": "riot_s8-120419.htm", "description": "FORM S-8", "secsgml_size_bytes": 169587}]
{"company-data": {"conformed-name": "Riot Blockchain, Inc.", "cik": "0001167419", "assigned-sic": "2835", "irs-number": "841553387", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-235355", "film-number": "191269130"}, "business-address": {"street1": "202 6TH STREET, SUITE 401", "city": "CASTLE ROCK", "state": "CO", "zip": "80104", "phone": "303-794-2000"}, "mail-address": {"street1": "202 6TH STREET, SUITE 401", "city": "CASTLE ROCK", "state": "CO", "zip": "80104"}, "former-company": [{"former-conformed-name": "Bioptix, Inc.", "date-changed": "20161201"}, {"former-conformed-name": "Venaxis, Inc.", "date-changed": "20121218"}, {"former-conformed-name": "AspenBio Pharma, Inc.", "date-changed": "20051110"}]}
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
(State or other jurisdiction
of incorporation number)
84-1553387
(I.R.S. Employer
Identification No.)
Riot
Blockchain, Inc.
202
6
th
Street, Suite 401
Castle
Rock, CO 80104
(Address of principal executive offices) (Zip Code)
The
Riot Blockchain, Inc. 2019 Equity Incentive Plan
(Full
title of the plan)
Jeffrey
G. McGonegal
Chief
Executive Officer
202
6
th
Street, Suite 401
Castle
Rock, CO 80104
(Name and address
of agent for service)
(303)
794-2000
(Telephone number,
including area code, of agent for service)
With
copies to:
William
                                         R. Jackman, Esq.
Rogers
        Towers, P.A.
1500
        Riverplace Blvd., Suite 1500
Jacksonville,
        FL 32207
(904)
        398-3911
Benjamin
                                         W. Kennedy
Dickinson
        Wright PLLC
100
        W. Liberty St., Suite 940
Reno,
        NV 89501
(775)
        343-7504
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. (Check one):
Large accelerated
filer [_]
Accelerated filer [X]
Non-accelerated filer [_]
Smaller reporting company [X]
Emerging Growth Company [_]
(Do not check if a smaller reporting company)
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 13(a) of the Exchange Act.
[_]
CALCULATION
OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be registered
(1) (2)
Proposed maximum offering price per share
(3)
Proposed maximum aggregate offering price
(3)
Amount of Registration Fee
(4)
Common Stock,
no par value
3,930,603 shares
$
1.33
$
5,227,701.99
$
678.56
(1)
Pursuant
                                         to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
                                         this registration statement also covers an indeterminate amount of interests to be offered
                                         or sold in connection with any stock split, stock dividend or similar transaction, or
                                         anti-dilution or other adjustment pursuant to the employee benefit plan described herein.
(2)
Includes
                                         330,603 shares available for issuance under the Registrant's former employee equity
                                         incentive plan, the Bioptix, Inc. 2017 Stock Incentive Plan, which are available for
                                         issuance under the 2019 Plan, of which 120,500 shares are being offered for resale by
                                         the Selling Stockholders listed in Part II, below.
(3)
In
                                         accordance with Rule 457(n) under the Securities Act, the maximum offering price per
                                         share and the proposed maximum aggregate offering price are estimated based on the average
                                         of the $1.36 (high) and $1.30 (low) sale price of the Registrant's Common Stock,
                                         no par value, as reported on the Nasdaq Capital Market on December 2, 2019, which date
                                         is within five business days prior to filing this Registration Statement.
(4)
Estimated
                                         solely for the purpose of calculating the registration fee in accordance with Rule 457(h)
                                         under the Securities Act based on the average of the high and low trading prices of a
                                         share of common stock of the registrant on the Nasdaq Capital Market on December 2, 2019.
i
EXPLANATORY
NOTE
This
registration statement on Form S-8 (this "Registration Statement") registers shares of common stock, no par value,
(the "Shares") of Riot Blockchain, Inc. ("Riot," the "Registrant," the "Company,"
"we," "us" or "our") including:
(i)
3,600,000
                                         Shares that may be granted pursuant to the 2019 Riot Blockchain, Inc. Equity Incentive
                                         Plan (the "2019 Plan"); and
(ii)
330,603
                                         Shares (the "Carryover Shares"), formerly available for grant pursuant the
                                         Registrant's former employee equity incentive plan, the Bioptix, Inc. 2017 Equity
                                         Incentive Plan (the "2017 Plan"), which, by the terms of the 2019 Plan, are
                                         available for issuance under the 2019 Plan. These Carryover Shares include:
a.
120,500
                                         Shares held by "affiliates," which are "control securities,"
                                         issued to the Selling Stockholders listed below pursuant to the 2017 Plan, which are
                                         being registered for resale to the public by the "Selling Stockholders" listed
                                         herein pursuant to this Registration Statement and the accompanying reoffer prospectus
                                         (discussed below); and
b.
210,103
                                         Shares issuable in settlement of outstanding restricted stock units and other convertible
                                         rights granted to employees, officers, and directors of the Registrant pursuant to the
                                         2017 Plan to be offered by the Selling Stockholders listed in the reoffer prospectus
                                         below. Under the 2019 Plan, a total of 3,600,000 Shares have been reserved for issuance
                                         upon the settlement of vested stock awards (which may include awards of restricted stock,
                                         restricted stock units, options, or other securities relating to Shares) made to officers,
                                         directors, employees and consultants of the Company, as well as those Shares formerly
                                         available for issuance pursuant to the 2017 Plan. The 2019 Plan provides that, as of
                                         the date of approval of the 2019 Plan by the Registrant's stockholders, which occurred
                                         on October 23, 2019, no additional grants will be made under the 2017 Plan.
This
Registration Statement also includes a reoffer prospectus (the "Reoffer Prospectus") prepared in accordance with General
Instruction C of Form S-8 and in accordance with the requirements of Part I of Form S-3. The Reoffer Prospectus may be used in
connection with the reoffer and resale of our securities registered hereunder by the Selling Stockholders identified in the Reoffer
Prospectus (the "Selling Stockholders"), some of whom may be considered "affiliates" of the Company, as
defined in Rule 405 under the Securities Act of 1933, as amended (the "Securities Act"). The number of Shares included
in the Reoffer Prospectus represents the total number of Shares held by the Selling Stockholders, as well as the those that may
be acquired by the Selling Stockholders pursuant to restricted stock unit awards made to the Selling Stockholders by the Registrant,
and does not necessarily represent a present intention to sell any or all such Shares by the Selling Stockholders.
ii
PART
I
INFORMATION
REQUIRED IN THE SECTION 10(A) PROSPECTUS
This
Registration Statement relates to two separate prospectuses.
Section
10(a) Prospectus
: Items 1 and 2, from this page, and the documents incorporated by reference pursuant to Part II, Item 3 of
this prospectus, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
Reoffer
Prospectus
: The material that follows Item 2, beginning on Page 1 through Page 10, up to but not including Part II of this
Registration Statement, beginning on Page II-1, of which the Reoffer Prospectus is a part, constitutes a "Reoffer Prospectus,"
prepared in accordance with the requirements of Part I of Form S-3 under the Securities Act. Pursuant to General Instruction C
of Form S-8, the Reoffer Prospectus may be used for reoffers or resales of Shares which are deemed to be "control securities"
or "restricted securities" under the Securities Act that have been acquired by the Selling Stockholders named in the
Reoffer Prospectus.
Item 1.
Plan
                                         Information.
The Company
will provide each recipient (the "Recipients") of a grant under the 2019 Plan with documents that contain information
related to the 2019 Plan, and other information including, but not limited to, the disclosure required by Item 1 of Form S-8,
which information is not required to be and is not being filed as a part of this Registration Statement or as prospectuses or
prospectus supplements pursuant to Rule 424 under the Securities Act. The foregoing information and the documents incorporated
by reference in response to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act. A Section 10(a) prospectus will be given to each Recipient who receives
Shares covered by this Registration Statement, in accordance with Rule 428(b)(1) under the Securities Act.
Item 2.
Registrant
                                         Information and Employee Plan Annual Information.
We will
provide to each Recipient a written statement advising of the availability of documents incorporated by reference in Item 3 of
Part II of this Registration Statement (which documents are incorporated by reference in this Section 10(a) prospectus) and of
documents required to be delivered pursuant to Rule 428(b) under the Securities Act without charge and upon written or oral request
by contacting:
Jeffrey
G. McGonegal
Chief Executive Officer
Riot Blockchain, Inc.
202 6
th
Street, Suite 401
Castle Rock, CO 80104
Telephone: (303) 794-2000
iii
REOFFER
PROSPECTUS
RIOT
BLOCKCHAIN, INC.
202
6
th
Street, Suite 401
Castle Rock, CO 80104
Telephone: (303) 794-2000
3,930,603 Shares of Common Stock
This
Reoffer Prospectus relates to 3,930,603 shares of our common stock, no par value (the "Shares"), that may be offered
and resold from time to time by the selling stockholders identified in this Reoffer Prospectus (the "Selling Stockholders")
for their own account. Some of the Selling Stockholders are "affiliates" of the Company, as defined by Rule 405 under
the Securities Act of 1933, as amended (the "Securities Act").
The Selling
Stockholders were issued grants of stock, which they hold of their own account, as well as restricted stock, restricted stock
units, options, and other convertible rights (the "Stock Rights") which were convertible, upon vesting and settlement
by the Company, into Shares pursuant to the 2017 Plan. The Company will issue Shares of our under the Registration Statement of
which this Reoffer Prospectus forms a part to the Selling Stockholders in settlement of the Stock Rights held by the Selling Stockholders
on a one-for-one basis pursuant to the 2019 Plan and the term of their individual award agreements.
It is
anticipated that the Selling Stockholders will offer the Shares issued to them for sale at prevailing prices on The NASDAQ Capital
Market on the date of sale; however, the Selling Stockholders may also sell the Shares issues to them in various other types of
transactions, such as, for example, sales in negotiated transactions through underwriters. For a description of the various methods
by which the Selling Stockholders may offer and sell their Shares described in this Reoffer Prospectus, see the section entitled
"Plan of Distribution" of this Reoffer Prospectus. We will receive no part of the proceeds from sales made under this
Reoffer Prospectus. The Selling Stockholders will bear all sales commissions and similar expenses. Any other expenses incurred
by us in connection with the registration and offering will be borne by us and will not borne by the Selling Stockholders.
Some
of the Shares issued pursuant to the 2019 Plan in settlement of awards granted to the Selling Stockholders will be "control
securities" under the Securities Act before their sale under this Reoffer Prospectus. This Reoffer Prospectus has been prepared
for the purposes of registering the Shares (including the Shares issuable upon settlement of the Stock Rights) under the Securities
Act to allow for future sales by the Selling Stockholders on a continuous or delayed basis to the public without restriction.
The Selling
Stockholders and any brokers executing selling orders on their behalf may be deemed to be "underwriters" within the
meaning of the Securities Act, in which event commissions received by such brokers may be deemed to be underwriting commissions
under the Securities Act.
Our common
stock is traded on The NASDAQ Capital Market under the symbol "RIOT". On December 3, 2019, the closing price of our
common stock on such market was $1.32 per share.
Our
business and an investment in our securities involve a high degree of risk. Before making any investment in our securities, you
should read and carefully consider risks described in the "Risk Factors" section beginning on page 3 of this Reoffer
Prospectus, as well as those disclosed in our most recent annual report on Form 10-K, as amended.
Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this Reoffer Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date
of this Reoffer Prospectus is December 4, 2019.
iv
TABLE
OF CONTENTS
PROSPECTUS SUMMARY
1
ABOUT RIOT BLOCKCHAIN
1
THE OFFERING
3
RISK FACTORS
3
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
3
USE OF PROCEEDS
5
DETERMINATION OF OFFERING
PRICE
5
SELLING STOCKHOLDERS
5
PLAN OF DISTRIBUTION
7
LEGAL MATTERS
9
EXPERTS
9
INTERESTS OF NAMED EXPERTS
AND COUNSEL
9
INCORPORATION OF CERTAIN
DOCUMENTS BY REFERENCE
9
DISCLOSURE OF COMMISSION
POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES
10
WHERE YOU CAN FIND MORE
INFORMATION
10
v
You
should rely only on the information contained in this Reoffer Prospectus. We have not authorized any other person to provide you
with information that is different from that contained in this Reoffer Prospectus. If anyone provides you with different or inconsistent
information, you should not rely on it. We take no responsibility for, and can provide no assurance as to the reliability of,
any other information that others may give you. You should assume that the information contained in this Reoffer Prospectus is
accurate only as of the date of this Reoffer Prospectus, regardless of the time of delivery of this Reoffer Prospectus or of any
sale of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.
We are not making an offer of any securities PURSUANT TO THIS PROSPECTUS. The Selling Stockholders are offering to sell and seeking
offers to buy these securities only in jurisdictions where offers and sales are permitted.
PROSPECTUS
SUMMARY
The following
summary highlights selected information contained in this Reoffer Prospectus. This summary does not contain all the information
you should consider before investing in the securities. Before making an investment decision, you should read the entire Reoffer
Prospectus carefully, including the section entitled "Risk Factors" before deciding to invest in our common stock.
In this Reoffer Prospectus, unless otherwise noted, "Riot," "Company," "we," "us,"
and "our" refer to Riot Blockchain, Inc.
ABOUT
RIOT BLOCKCHAIN
Company
Background
The
Company was incorporated on July 24, 2000 in the State of Colorado under the name AspenBio, Inc., which was subsequently changed
to AspenBio Pharma, Inc. In December 2012, we changed our name to Venaxis, Inc. and in 2016, in connection with our acquisition
of BiOptix Diagnostics, Inc., we changed our name to Bioptix, Inc. and, as of October 19, 2017, we changed our name to Riot Blockchain,
Inc., to reflect our new focus on our blockchain business. That operational focus and the Company's acquisitions of Kairos
Global Technologies, Inc. ("Kairos") and TessPay, Inc., formerly known as 1172767 B.C. Ltd., and its investments in
Coinsquare, Ltd., formerly known as goNumerical Ltd., and Verady, LLC, as well as the Company's new name, reflects a strategic
decision by the Company to operate in the blockchain and digital currency related business sector. As of the date of this filing,
the Company's ownership of TessPay, Inc., has been reduced below 10%. On March 26, 2018, the Company also acquired 92.5%
of Logical Brokerage Corp. ("Logical Brokerage"). Logical Brokerage is a futures introducing broker headquartered
in Ft. Lauderdale, Florida registered with the Commodity Futures Trading Commission, and a member of the National Futures Association.
In
October 2017, we changed our state of incorporation to Nevada from Colorado. Our principal executive offices are located at 202
6th Street, Suite 401, Castle Rock, CO 80104 and our telephone number is (303) 794-2000. Our website address is www.riotblockchain.com.
The information contained on, or accessible through, our website is not part of this Reoffer Prospectus.
Digital
Currency Mining Operations
Overview
of Mining Operations
The Company's
mining operations focus primarily on bitcoin mining. Bitcoin mining entails solving complex mathematical problems using custom
designed and programmed application-specific integrated circuit computers (referred to as "miners"). Bitcoin miners
provide transaction verification services to a given blockchain by solving complex algorithms to encode additional blocks into
the blockchain, which blocks serve as immutable records of transactions once added to the blockchain. When a miner is successful
in adding a block to the blockchain, it is rewarded with a fixed number of bitcoin. Blocks are added to the blockchain on a first-to-finish
basis, meaning that the first miner to solve an algorithm and verify a given transaction is the only miner to receive a bitcoin
reward. This first-to-finish environment has created a computing power arms race whereby miners are encouraged through competition
to allocate ever-increasing computing power (known as "hash rate") to solving algorithms. The resulting energy costs
are substantial, and, in light of the recent decline in the market price of bitcoin and other "benchmark" digital
currencies such as bitcoin cash, litecoin, and ethereum, the profitability of mining operations has been reduced as competition
increases to solve each block.
1
In response
to these factors, the Company has entered into mining pools, whereby multiple miners allocate their collective computing powers
to solving a given algorithm thereby increasing the collective hash rate devoted to a given algorithm. By pooling their efforts,
miners in a pool are more likely to verify a given transaction and add a block to the Blockchain than miners acting individually.
Pool miners are awarded a fractional reward based on the hash rate each contributed to the pool on a given successful transaction,
regardless of whether the individual miner actually solved the applicable algorithm. Miners are allocated a share of every reward
obtained by the pool operator, and thus the risk of not solving the algorithm first is reduced. The Company participates in pools
on an at-will basis, and is under no obligation to remain in a given pool and may terminate its engagement with a given pool at
any time. Presently, management believes participating in mining pools is the most efficient means of mining digital currencies,
but is under no obligation, nor does it provide any assurance that it will continue to do so in the future.
Oklahoma
City Mining Facility
Beginning
in February of 2018, we relocated our mining operations to our Oklahoma City facility, which is leased by our subsidiary, Kairos.
As of the date of this Reoffer Prospectus, our approximate 8,000 digital currency "miners," which includes 7,500 model
S9 and 500 model L3+ miners operate in our Oklahoma City facility. These miners have been installed and operational since being
deployed in early 2018. In December of 2019, the Company purchased 3,000 Antminer S17 Pro digital currency miners from Bitmaintech
PTE, LTD. ("
Bitmain
"), which offer substantially improved power usage efficiency in the production of bitcoin
over previous models. The Company expects to begin installation of the new Antminer S17 Pro digital currency miners as soon as
they are delivered to the Oklahoma City facility by Bitmain.
Development
of a U.S.-based Digital Currency Exchange
The Company
has been investigating and pursuing the regulatory pathway for the launch of a digital currency exchange in the United States
since the beginning of 2018. The Company's planned digital currency exchange under the name "RiotX" is being
developed by and is contemplated to be operated through the Company's subsidiary, RiotX Holdings, Inc.
2
THE
OFFERING
Shares of common stock outstanding prior to this offering
24,802,116
(1)
Shares being offered by the Selling Stockholders
120,500
(2)
Shares of common stock to be outstanding after the offering
24,922,616
(1)(2)
(1)       As
of December 4, 2019.
(2)       Assumes
the settlement of all restricted stock unit grants and options awarded to the Selling Stockholders in shares of our common stock
on a one for one basis and the subsequent sale by the Selling Stockholders of all of the shares of our common stock issued to
them by the Company and registered for resale to the public under the Registration Statement accompanying this Reoffer Prospectus.
Use
    of proceeds
We
    will not receive any proceeds from the sale of the shares of common stock offered in this Reoffer Prospectus.
Risk
    Factors
The
    purchase of our common stock involves a high degree of risk. You should carefully review and consider "Risk Factors"
    beginning on page 3 of this Reoffer Prospectus.
NASDAQ
    Symbol
RIOT
RISK
FACTORS
Investing
in our common stock involves a high degree of risk. Before making an investment decision, you should consider carefully the risks,
uncertainties and other factors described under "Risk Factors" in our most recent Annual Report on Form 10-K for the
year ended December 31, 2018, filed with the Securities and Exchange Commission (the "SEC") on April 2, 2019, as amended
on Form 10-K/A, filed with the SEC on April 23, 2019, as supplemented and updated by subsequent Quarterly Reports on Form 10-Q,
together with the financial or other information contained or incorporated by reference in such reports, and Current Reports on
Form 8-K that we have filed or will file with the SEC, which are incorporated by reference into this Reoffer Prospectus.
Our business,
affairs, prospects, assets, financial condition, results of operations and cash flows could be materially and adversely affected
by these risks. For more information about our SEC filings, please see the section entitled "Where You Can Find More Information"
on page 10 of this Reoffer Prospectus.
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain
statements in this Reoffer Prospectus may be forward-looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), and are subject to the safe harbor created thereby. All statements other
than statements of historical fact are statements that could be deemed forward-looking statements. These statements relate to
future events or the Company's future performance and include statements regarding expectations, beliefs, plans, intentions
and strategies of the Company. In some cases, forward-looking statements can be identified by terminology such as "may,"
"will," "could," "would," "should," "expect," "plan,"
"anticipate," "intend," "believe," "estimate," "predict," "potential"
or other comparable terminology. These forward-looking statements are made based on management's expectations and beliefs
concerning future events affecting the Company as of the date of the filing of this Reoffer Prospectus and are subject to uncertainties
and factors relating to operations and the business environment, all of which are difficult to predict and many of which are beyond
management's control. Accordingly, you should not place undue reliance on these forward-looking statements, as actual results,
performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements
due to a variety of risks, uncertainties and other factors, including, but not limited to, the following:
3
•
our
                                         history of operating losses and our ability to achieve or sustain profitability;
•
our
                                         recent shift to an entirely new business and our ability to succeed in this new business;
•
intense
                                         competition;
•
our
                                         ability to raise additional capital needed to finance our business;
•
general
                                         economic conditions in the U.S. and globally;
•
our
                                         ability to maintain the value and reputation of our brand;
•
our
                                         ability to attract and retain senior management and other qualified personnel;
•
cryptocurrency-related
                                         risks, including regulatory changes or actions and uncertainty regarding acceptance and/or
                                         widespread use of virtual currency;
•
risks
                                         relating to our virtual currency mining operations, including among others, risks associated
                                         with the need for significant electrical power, cybersecurity risks and risk of increased
                                         world-wide competition for a fixed number of bitcoin reward levels;
•
our
                                         dependence in large part upon the value of virtual currencies, especially bitcoin, which
                                         have historically been subject to significant volatility in their market prices;
•
risks
                                         relating to our planned establishment of a virtual currency exchange, including, among
                                         others, regulatory requirements and challenges and security threats;
•
our
                                         ability to protect our intellectual property rights;
•
volatility
                                         in the trading price of our common stock;
•
our
                                         ability to maintain the Nasdaq listing of our common stock;
•
our
                                         investments in other virtual currency and blockchain focused companies may not be realizable;
•
legal
                                         proceedings to which we are subject, or associated with, including actions by private
                                         plaintiffs and the SEC, for which we may face significant potential liability that may
                                         not be adequately covered by insurance or indemnity; and
•
the
                                         risks and, uncertainties discussed in Part II. Item 1A. "Risk Factors" included
                                         in this Reoffer Prospectus and Part I, Item 1A. "Risk Factors" in our Annual
                                         Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on April
                                         2, 2019, as amended on Form 10-K/A, filed with the SEC on April 23, 2019, as supplemented
                                         and updated by subsequent Quarterly Reports on Form 10-Q together with the financial
                                         or other information contained or incorporated by reference in such reports, and Current
                                         Reports on Form 8-K that we have filed or will file with the SEC, which are incorporated
                                         by reference into this Reoffer Prospectus.
Accordingly,
you should read this Reoffer Prospectus completely and with the understanding that our actual future results may be materially
different from what we expect. Additional risks and uncertainties not known to us or that we currently believe not to be material
may adversely impact our business, financial condition, results of operations and cash flows. Should any risks or uncertainties
develop into actual events, these developments could have a material adverse effect on our business, financial condition, results
of operations and cash flows. The forward-looking statements contained in this Reoffer Prospectus speak only as of the date of
filing of this Reoffer Prospectus and, unless otherwise required by applicable securities laws, the Company disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
4
USE
OF PROCEEDS
The Shares
offered by the Selling Stockholders pursuant to this Reoffer Prospectus are being registered for the account of the Selling Stockholders
named in this Reoffer Prospectus. As a result, all proceeds from the sales of the Shares will go to the Selling Stockholders and
we will not receive any proceeds from the resale of the Shares by the Selling Stockholders.
DETERMINATION
OF OFFERING PRICE
The Selling
Stockholders may sell their Shares pursuant to this Reoffer Prospectus from time-to-time at prices and at terms according to the
then prevailing market price for shares of our Shares, or in negotiated transactions.
SELLING
STOCKHOLDERS
The table
below sets forth, as of December 4, 2019, (i) the number of Shares held of record or beneficially owned by the Selling Stockholders
as of such date (as determined below) and (ii) the number of Shares that may be sold or otherwise disposed of under this Reoffer
Prospectus by each Selling Stockholder (including those Shares which may be issued in settlement of those Stock Rights held by
the Selling Stockholders). Beneficial ownership includes Shares plus any securities held by the holder exercisable for or convertible
into Shares within sixty (60) days after December 4, 2019, in accordance with Rule 13d-3(d)(1) under the Exchange Act. The inclusion
of any Shares in this table does not constitute an admission of beneficial ownership by the Selling Stockholders named below.
We do not know when or in what amounts a Selling Stockholder may sell or otherwise dispose of the Shares covered hereby. The Selling
Stockholders identified below may have sold, transferred or otherwise disposed of some or all of their Shares in transactions
exempt from or not subject to the registration requirements of the Securities Act since the date on which the information in the
following table was provided to us. Information concerning the Selling Stockholders may change from time to time and, we will,
as appropriate, supplement this Reoffer Prospectus in order to reflect grants under the 2019 Plan and/or to update the list of
Selling Stockholders and the number of Shares being offered. The Selling Stockholders may not sell or otherwise dispose of any
or all of the Shares offered pursuant to this Reoffer Prospectus and they may sell or otherwise dispose of shares covered hereby
in transactions exempt from the registration requirements of the Securities Act. Because the Selling Stockholders may sell or
otherwise dispose of some, all or none of the Shares covered hereby, and because there are currently no agreements, arrangements
or understandings with respect to the sale of any of the Shares, we cannot estimate the number of the Shares that will be held
by the Selling Stockholders after completion of the offering contemplated by this Reoffer Prospectus. However, for purposes of
the following table, we have assumed that all of the Shares covered hereby are sold by the Selling Stockholders pursuant to this
Reoffer Prospectus. We will not receive any proceeds from the resale of the Shares by the Selling Stockholders.
All Selling
Stockholders named are current officers or directors of the Company. All of the Selling Stockholders received their Shares being
offered pursuant to this Reoffer Prospectus in return for services rendered to the Company. Unless otherwise indicated below,
to our knowledge, all persons named in the table have sole voting and investment power with respect to their Shares, except to
the extent authority is shared by their spouses under applicable law. Unless otherwise indicated below, to our knowledge, no persons
named in the table are a broker-dealer or affiliate of a broker-dealer. Unless otherwise indicated, each Selling Shareholder's
mailing address is: c/o Riot Blockchain, Inc., 202 6
th
Street, Suite 401, Castle Rock, CO 80104.
5
Name
Number of Shares
Beneficially Owned Prior to Offering
Percentage of Common Stock
    Beneficially Owned Before Resale(1)**
Shares Offered in this Offering(2)(3)
Number of Shares Beneficially
    Owned After this Offering(1)
Percentage of Shares
Beneficially
Owned After this Offering**
Remo Mancini
76,500
*
76,500
-
*
Jason Les
42,000
*
27,000
15,000
*
Benjamin Yi
-
*
-
-
*
Jeffrey G. McGonegal
38,701
*
17,000
21,701
*
Total
120,500
*Less
than 1%
** Based
upon 24,802,116 shares of Shares issued and outstanding as of December 4, 2019.
(1)       Beneficial
ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect
to securities. Shares of Common Stock underlying options currently exercisable, or exercisable, or restricted stock units that
vest, within 60 days after December 4, 2019, (as used in this section, the "Determination Date"), are deemed outstanding
for purposes of computing the beneficial ownership of the person holding such options and/or restricted stock units but are not
deemed outstanding for computing the beneficial ownership of any other person. Except where we had knowledge of such ownership,
the number presented in this column may not include shares held in street name or through other entities over which the selling
stockholder has voting and dispositive power.
(2)       Assumes
the exercise and sale of all Shares issues in the settlement of all Stock Rights held by the Selling Stockholders.
(3)       Includes
(i) 108,187 Shares issuable in settlement of 108,187 vested restricted stock units held by the Selling Stockholders, (ii) 12,000
Shares issuable upon the exercise of 12,000 vested stock options, and (iii) 313 Shares issuable in settlement of 313 restricted
stock units which vest within sixty (60) days of the filing of this Reoffer Prospectus, which vest in December 2019.
6
PLAN
OF DISTRIBUTION
Timing of Sales
The Selling
Stockholders may offer and sell the Shares covered by this Reoffer Prospectus at various times while the Registration Statement
to which this Reoffer Prospectus relates remain effective. The Selling Stockholders will act independently of the Company with
respect to the timing, manner and size of each sale.
No Known Agreements to
Resell
the Shares
To our
knowledge, no Selling Stockholder has any agreement or understanding, directly or indirectly, with any person to resell the Shares
covered by this Reoffer Prospectus.
Offering
Price
The sales
price offered by the Selling Stockholders to the public may be:
1.       the
market price prevailing at the time of sale;
2.       a
price related to such prevailing market price;
3.       a
price negotiated by such Selling Stockholder in a negotiated sale; or
4.       such
other price as the Selling Stockholders determine from time to time.
Manner of Sale
The Shares
may be sold by whatever permissible means selected by the Selling Stockholders, including by one or more of the following methods:
1.
a
                                         block trade in which the broker-dealer so engaged will attempt to sell the Shares as
                                         agent, but may position and resell a portion of the block as principal to facilitate
                                         the transaction;
2.
Purchases
                                         by a broker-dealer as principal and resale by that broker-dealer for its account pursuant
                                         to this Reoffer Prospectus;
3
.
ordinary
brokerage transactions in which the broker solicits purchasers;
4.
directly
to purchasers at prevailing market prices or in negotiated sales;
5.
t
hrough options, swaps or derivatives;
6.
i
n
transactions to cover short sales;
7.
privately negotiated transactions; or
8.
o
n
a combination of any of the above methods.
The Selling
Stockholders may sell their Shares directly to purchasers or they may use brokers, dealers, underwriters or agents to sell their
Shares. Brokers or dealers engaged by the Selling Stockholders may arrange for other brokers or dealers to participate in such
sales. Brokers or dealers may receive commissions, discounts or concessions from the Selling Stockholders, or, if any such broker-dealer
acts as agent for the purchaser of the Shares, from the purchaser in amounts to be negotiated immediately prior to the sale. The
compensation received by brokers or dealers may, but is not expected to, exceed that which is customary for the types of transactions
involved. The Company will bear none of the costs associated with such broker-dealer relationships on behalf of the Selling Stockholders,
except with regard to those costs we may incur from time to time to update this Reoffer Prospectus, if required.
Broker-dealers
may agree with a Selling Stockholder to sell a specified number of their Shares at a stipulated price per Share, and, to the extent
the broker-dealer is unable to do so acting as agent for a Selling Stockholder, to purchase as principal any unsold Shares at
the price required to fulfill the broker-dealer commitment to the Selling Stockholder.
Broker-dealers
who acquire stock as principal may thereafter resell the Shares they acquire from time to time in transactions, which may involve
block transactions and sales to and through other broker-dealers, including transactions of the nature described above, on The
NASDAQ Capital Market or otherwise at prices and on terms then prevailing at the time of sale, at prices related to the then-current
market price or in negotiated transactions. In connection with resales of the Shares, broker-dealers may pay to or receive from
the purchasers of Shares commissions as described above. If our Selling Stockholders enter into such arrangements with brokers-dealers
as described above, we will file a post-effective amendment to this registration statement disclosing such arrangements, including
the names of any broker-dealers acting as underwriters, and will update this Reoffer Prospectus, as required.
7
The Selling
Stockholders and any broker-dealers or agents that participate with the Selling Stockholders in the sale of the Shares may be
deemed to be "underwriters" within the meaning of the Securities Act. In that event, any commissions received by broker-dealers
or agents and any profit on the resale of the Shares purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act.
We will
make copies of this Reoffer Prospectus available to the Selling Stockholders for the purpose of satisfying the Reoffer Prospectus
delivery requirements of the Securities Act and we have notified the Selling Stockholders of the need to deliver a copy of this
Reoffer Prospectus in connection with any sale of the Shares pursuant to this Registration Statement.
Sales Pursuant to Rule
144
Any Shares
covered by this Reoffer Prospectus which qualifies for sale pursuant to Rule 144 under the Securities Act may be sold in compliance
with Rule 144 rather than pursuant to this Reoffer Prospectus.
Regulation M
Each
Selling Stockholder will be subject to the applicable provisions of the Exchange Act and the associated rules and regulations
under the Exchange Act, including Regulation M. The anti-market manipulation rules of Regulation M may limit the timing of purchases
and sales of the Shares by the Selling Stockholders. Regulation M may also restrict the ability of any person engaged in the distribution
of the Shares pursuant to this Reoffer Prospectus to engage in passive market-making activities with respect to such Shares. Passive
market-making involves transactions in which a market maker acts as both the underwriter and as a purchaser of the Shares in the
secondary market. All of the foregoing may limit the marketability of the Shares offered pursuant to this Reoffer Prospectus by
the Selling Stockholders and may also limit the ability of any person to engage in market-making activities with respect to such
Shares.
Accordingly,
during such times as a Selling Stockholder may be deemed to be engaged in a distribution of the Shares, and therefore be considered
to be an underwriter, the Selling Stockholder must comply with applicable law and, among other things:
1.
may
                                         not engage in any stabilization activities in connection with our Securities;
2.       may
not cover short sales by purchasing Shares while the distribution is taking place; and
3.
may
                                         not bid for or purchase any of our securities or attempt to induce any person to purchase
                                         any of our securities other than as permitted under the Exchange Act.
Once
sold under the Registration Statement of which this Reoffer Prospectus forms a part, the Shares will be freely tradable by any
person other than our affiliates (including affiliates of our affiliates).
State Securities Laws
Under
the securities laws of some states, the Shares may be sold in such states only through registered or licensed brokers or dealers.
In addition, in some states the Shares may not be sold unless the Shares have been registered or qualified for sale in the state
or an exemption from registration or qualification is available and is complied with. If a Selling Stockholder intends to offer
our Shares in such a jurisdiction, the Selling Stockholder must do so in compliance with applicable law.
8
Expenses of Registration
We are
bearing all costs relating to the registration of the Shares. These expenses are estimated to be $10,000 including, but not limited
to, legal, accounting, printing and mailing fees. The Selling Stockholders, however, will pay any commissions or other fees payable
to brokers or dealers in connection with any sale of the Shares.
LEGAL
MATTERS
The validity
of the issuance of the securities offered hereby has been passed upon for us by Dickinson Wright PLLC of Reno, Nevada as stated
in their opinion, which is incorporated by reference herein. Additional legal matters may be passed upon for us or any underwriters,
dealers or agents, by counsel that we will name in the applicable Reoffer Prospectus supplement.
EXPERTS
The audited
financial statements of Riot Blockchain, Inc. and its consolidated subsidiaries, incorporated herein by reference, for the year
ended December 31, 2018, and the related consolidated statements of operations, stockholders' equity, and cash flows for
the year then ended, and management's assessment of the effectiveness of internal control over financial reporting as of
December 31, 2018 have been audited by the Company's independent registered public accounting firm, Marcum, LLP, as stated
in their report, which is incorporated herein by reference. Such financial statements have been incorporated herein by reference
in reliance on the report of such firm given upon their authority as experts in accounting and auditing.
The audited
financial statements of Riot Blockchain, Inc. and its consolidated subsidiaries, incorporated herein by reference, for the year
ended December 31, 2017, and the related consolidated statements of operations, stockholders' equity, and cash flows for
the year then ended, have been audited by our former independent registered public accounting firm, MNP LLP, for the period and
to the extent set forth in their report. Such financial statements have been so incorporated herein by reference in reliance upon
the report of such firm given upon the firm's authority as an expert in auditing and accounting.
INTERESTS
OF EXPERTS
No expert
or counsel named in this Reoffer Prospectus as having prepared or certified any part of this Reoffer Prospectus or having given
an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration
or offering of the Shares was employed on a contingency basis or had, or is to receive, in connection with the offering, a substantial
interest, directly or indirectly, in the registrant or any of its parents or subsidiaries.
MATERIAL
CHANGES
There
have been no material changes in our affairs since the end of our last fiscal year on December 31, 2018, other than those changes
that have been described in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. See the
section below under the heading, "Where You Can Find More Information."
INCORPORATION
OF CERTAIN DOCUMENTS BY REFERENCE
The Securities
and Exchange Commission permits us to "incorporate by reference" the information contained in documents we file with
the Securities and Exchange Commission, which means that we can disclose important information to you by referring you to those
documents rather than by including them in this Reoffer Prospectus. Information that is incorporated by reference herein is considered
to be part of this Reoffer Prospectus and you should read it with the same care that you read this Reoffer Prospectus. Information
that we file later with the Securities and Exchange Commission will automatically update and supersede the information that is
either contained, or incorporated by reference, in this Reoffer Prospectus, and will be considered to be a part of this Reoffer
Prospectus from the date those documents are filed. We have filed with the Securities and Exchange Commission, and incorporate
by reference in this Reoffer Prospectus the following filed with the SEC:
9
·
Our
                                         Annual Report on Form 10-K for the year ended December 31, 2018, filed on April 2, 2019,
                                         and the amendment thereto on Form 10-K/A, filed on April 23, 2019;
·
Our
                                         Quarterly Reports on Form 10-Q for the quarterly periods ended: March 31, 2019, filed
                                         on May 5, 2019; June 30, 2019, filed on August 8, 2019; and September 30, 2019, filed
                                         on November 12, 2019;
·
Our
                                         Definitive Proxy Statement on Form DEF-14A, filed on September 20, 2019;
·
Our
                                         Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed
                                         to be furnished and not filed) filed on February 1, 2019; February 11, 2019; February
                                         22, 2019; April 4, 2019; May 3, 2019; May 24, 2019; July 25, 2019; August 15, 2019; September
                                         30, 2019; October 28, 2019; and December 4, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019; and
·
The
                                         description of our common stock contained in our registration statement on Form 8-A,
                                         filed pursuant to Section 12(b) of the Exchange Act on August 27, 2007, including any
                                         amendment or report filed for the purpose of updating that description.
We
also incorporate by reference all additional documents that we file with the Securities and Exchange Commission under the terms
of Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act that are made after the date of effectiveness Registration Statement
and after the date of this Reoffer Prospectus but prior to the termination of the offering of the securities covered by this Reoffer
Prospectus. We are not, however, incorporating, in each case, any documents or information that we are deemed to furnish and not
file in accordance with Securities and Exchange Commission rules.
You
may request, and we will provide you with, a copy of these filings, at no cost, by calling us at (303) 794-2000 or by writing
to us at the following address: Riot Blockchain, Inc., Attn: Jeffrey G. McGonegal, CEO, 202 6
th
Street, Suite 401 Castle
Rock, CO 80104.
DISCLOSURE
OF COMMISSION POSITION ON INDEMNIFICATION
FOR SECURITIES ACT LIABILITIES
As permitted
by the Nevada Business Company Act, we have adopted provisions in our restated certificate of incorporation and restated by-laws
that limit or eliminate the personal liability of our directors and certain executive officers and employees of the Company. We
also maintain general liability insurance that covers 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. 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 and Riot controlling
persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by us of expenses incurred or paid
by a director, officer or controlling person of the Company 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, we will, unless in the opinion
of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
WHERE
YOU CAN FIND MORE INFORMATION
We
file annual, quarterly and special reports, along with other information with the SEC. Our SEC filings are available to the public
over the Internet at the SEC's website at http://www.sec.gov. You may also read and copy any document we file at the SEC's
Public Reference Room at 100 F Street, NE, Washington, D.C. 20549. You may also obtain this information from the SEC at the address
listed above or from the SEC's internet site, SEC.gov. Please call the SEC at 1-800-SEC-0330 for further information on
the Public Reference Room. Our SEC filings are also available on our website, https://ir.riotblockchain.com/under the heading
"Investors." The information on this website is expressly not incorporated by reference into, and does not constitute
a part of, this Reoffer Prospectus.
10
REOFFER
PROSPECTUS
RIOT BLOCKCHAIN, INC.
202 6
th
Street, Suite 401
Castle Rock,
Colorado 80104
(303) 794-2000
3,930,603 SHARES
OF COMMON STOCK
December
4, 2019
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION
OF DOCUMENTS BY REFERENCE
The Securities
and Exchange Commission permits us to "incorporate by reference" the information contained in documents we file with
the Securities and Exchange 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 and the accompanying prospectus. 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 Reoffer Prospectus. Information that we file later with the Securities and Exchange 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 Securities
and Exchange Commission, and incorporate by reference herein the following documents filed with the SEC:
·
Our
                                         Annual Report on Form 10-K for the year ended December 31, 2018 filed on April 2, 2019
                                         and the amendment thereto on Form 10-K/A, filed on April 23, 2019;
·
Our
                                         Quarterly Reports on Form 10-Q for the quarterly periods ended: March 31, 2019, filed
                                         on May 5, 2019; June 30, 2019, filed on August 8, 2019; and September 30, 2019, filed
                                         on November 12, 2019;
·
Our
                                         Definitive Proxy Statement on Form 14A DEF, filed on September 20, 2019;
·
Our
                                         Current Reports on Form 8-K (excluding any reports or portions thereof that are deemed
                                         to be furnished and not filed) filed on February 1, 2019; February 11, 2019; February
                                         22, 2019; April 4, 2019; May 3, 2019; May 24, 2019; July 25, 2019; August 15, 2019; September
                                         30, 2019; October 28, 2019; and December 4, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019, as well as amendments thereto on Form 8-K/A filed on
                                         March 20, 2019 and October 28, 2019; and
·
The
                                         description of our common stock contained in our registration statement on Form 8-A filed
                                         pursuant to Section 12(b) of the Exchange Act on August 27, 2007, including any amendment
                                         or report filed for the purpose of updating that description.
We
also incorporate by reference all additional documents that we file with the Securities and Exchange Commission under the terms
of Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act that are made after the date of effectiveness of this Registration Statement
and after the date of the prospectus accompanying it but prior to the termination of the offering of the securities covered by
such prospectuses. We are not, however, incorporating, in each case, any documents or information that we are deemed to furnish
and not file in accordance with Securities and Exchange Commission rules.
You
may request, and we will provide you with, a copy of these filings, at no cost, by calling us at (303) 794-2000 or by writing
to us at the following address: Riot Blockchain, Inc., Attn: Jeffrey McGonegal, CEO, 202 6
th
Street, Suite 401 Castle
Rock, CO 80104.
ITEM 4. DESCRIPTION OF
SECURITIES
Not applicable.
ITEM 5. INTERESTS OF
NAMED EXPERTS AND COUNSEL
No expert
or counsel named in this Registration Statement as having prepared or certified any part of this Registration Statement or having
given an opinion upon the validity of the securities being registered or upon other legal matters in connection with the registration
or offering of the Shares was employed on a contingency basis or had, or is to receive, in connection with the offering, a substantial
interest, directly or indirectly, in the registrant or any of its parents or subsidiaries.
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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 contract 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 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.
Our
Articles of Incorporation provide that we may adopt bylaws to provide at all times the fullest indemnification permitted by the
laws of the State of Nevada, and may purchase and maintain insurance on behalf of any of officers and directors. 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
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.
ITEM 7. EXEMPTION FROM
REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS
Exhibit
Number
Description of Document
4.1
Articles of Incorporation
    filed September 20, 2017 (Incorporated by reference from the Registrant's Current Report on Form 8-K, filed September
    25, 2017)
4.2
Bylaws, effective September
    20, 2017 (Incorporated by reference from the Registrant's Current Report on Form 8-K, filed September 25, 2017)
4.3
Amendment to Bylaws (incorporated
    by reference to 8-K filed March 12, 2018)
4.4
Form of Certificate of Designation
4.5
The Riot Blockchain, Inc. 2019 Equity Incentive Plan, as approved by the Registrant's stockholders on October 23, 2019, as reported on the Registrant's current report on Form 8-K filed October 28, 2019, as amended.
5.1
Opinion of Dickinson Wright, PLLC
23.1
Consent of Marcum LLP
23.2
Consent of MNP LLP
23.3
Consent of Dickinson Wright, PLLC (contained in Exhibit 5.1)
24.1
Power of Attorney (included on the signature
    page of this registration statement).
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ITEM 9. UNDERTAIKNGS
(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, as amended (the "Securities Act");
(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 Commission 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.
(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 Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of
1934, as amended (the "Exchange Act") 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, 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 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 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
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(5)
That, for the purpose of determining liability of the registrant under the Securities Act 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, each filing of the
registrant's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) 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 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 Securities 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 Securities 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.
(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.
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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, in the City of Castle Rock, and State of Colorado, on the 4th day of December,
2019.
Riot Blockchain, Inc.
By:
/s/ Jeffrey G. McGonegal
Jeffrey G. McGonegal
Chief
    Executive Officer and Chief Financial Officer (Principal Executive Officer and 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 Jeffrey
G. McGonegal 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/
    Jeffrey G. McGonegal
Jeffrey G. McGonegal
Chief
    Executive Officer,
(Principal Executive Officer)
December
    4, 2019
/s/
    Jeffrey G. McGonegal
Jeffrey G. McGonegal
Chief
    Financial Officer
(Principal Financial and Accounting Officer)
December
    4, 2019
/s/
    Remo Mancini
Remo Mancini
Director
    and Chairman
December
    4, 2019
/
    /s/ Jason Les
Jason Les
Director
December
    4, 2019
/s/
    Benjamin Yi
Benjamin Yi
Director
December
    4, 2019
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