Riot platforms A record turnover of $ 161.4 million in the first quarter of 2025, more than doubled by its revenues of $ 79.3 million compared to a year ago, according to its Last income report.
Bitcoin (BTC) Miner said he continued to evolve operations and capitalize on stronger market conditions during the quarter.
The company based in Texas, one of the largest Bitcoin extraction companies integrated vertically in North America, has awarded growth at a higher average bitcoin price, an extended hash rate capacity and strategic improvements in its flagship installation of Corsicana.
However, despite the company's record revenues, Riot posted a net loss of $ 296.4 million for the quarter, against a net profit of $ 211.8 million in the first quarter of 2024.
The adjusted Ebitda fell to negative $ 176.4 million, compared to 245.7 million positive dollars a year earlier, reflecting losses of fair value on marketable securities and non -monetary accounting adjustments.
Bitcoin production climbs
Riot produced 1,530 BTC in the first quarter, against 1,364 BTC during the same period last year. However, the cost to exploit 1 bitcoin, excluding depreciation, jumped from 90% in annual sliding to $ 43,808.
The increase was mainly motivated by the reduction of half of April 2024 of the Bitcoin block subsidy and a 41% increase in the hash level of the global network. Meanwhile, the total cost of Riot to exploit each bitcoin, including damping, reached $ 81,09, or almost 87% of the production value.
Bitcoin extraction income totaled $ 142.9 million in the first quarter, compared to $ 71.4 million during the period of the previous year. The average production value of Riot by Bitcoin was about $ 93,385, a sharp increase of $ 52,343 in the first quarter of 2024.
Engineering income has also shown strong growth, increasing $ 13.9 million, compared to $ 4.7 million the previous year. The increase was partly motivated by the acquisition of E4A Solutions, an engineering and manufacturing company introduced in the Riot ecosystem in December 2024.
At the end of the quarter, the company held 19,223 Bitcoin unchanged, worth $ 1.6 billion on the basis of a market price of $ 82,534 per room on March 31. The company also owned $ 163.7 million in cash without restrictions and a total of $ 310.3 million in working capital.
Rhodium colony
In April, Riot acquired mining operations and physical infrastructure of Rhodium Enterprises Enterprises at the installation of Rockdale, resolving the current disputes and recovering 125 megawatts of contractual power for its own use.
The company said that the regulations eliminate around $ 15 million in annual losses associated with the accommodation contract inherited from Rhodium and related legal expenses.
Riot CEO, Jason, said:
“These regulations allow us to fully control the capacity of the Rockdale site and immediately improves the financial efficiency of our operations.”
Riot said that it also made significant progress in the transition from the installation of Corsicana into a future AI and a high performance computer center (HPC). A feasibility study carried out in March by the consulting firm Altman Solon concluded that the size, location and infrastructure of the site made it well suited to the tenants of the data center.
To this end, Riot is expanding the connectivity of public services with new fiber lines, the increase in water access and continuous construction on a new substation which will support up to 1 Gigawatt (GW) of total energy capacity in early 2026.
Riot operates mining installations in Texas and Kentucky and maintains electrical and manufacturing operations in Denver and Houston. The company said it was focused on becoming the main Bitcoin-based infrastructure platform in the world.
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