- Riot platforms have experienced the highest quarterly income, but has declared losses.
- By comparing the value of the first quarter, 2024, the revenues of the platform increased by around 50%.
Riot platformsThe largest bitcoin extraction platform in North America has experienced the highest quarterly income. Despite this milestone, the company said the losses said the mining costs almost doubled one year.
The head of management of Riot Platforms, Jasos Les, revealed his report on the results of the first quarter, 2025 on May 1 and mentioned that we had a new record of quarterly revenue in the first quarter to 161.4 million dollars.
By comparing the value of the first quarter, 2024, the revenues of the platform increased by around 50%. The net loss was $ 296,367, a drop of 240% compared to the net income recorded in the same period last year.
The event by half affects the margins of Riot
The platform mentioned that the average cost to operate BTC this quarter was $ 43,808, and during the same period last year, it was about $ 23,034, posing a 90%overvoltage. This increase was mainly due to the event to reduce the block grant which took place in April 2024.
The average global network hashrate also witnessed a overvoltage of 41% from one year to the next. This quarter, Riot made 166 BTC more compared to last year.
At the time of the press, the price of Bitcoin Oscillated about $ 96,658, or around 1.13% in the last 24 hours. The volume also noted an increase of 9.50%, which brought it to $ 32.42 billion. The global market capitalization amounts to 1.92 dollars.
In the current scenario, Riot holds approximately 19,223 without restrictions, estimated at around $ 1.86 billion. Last week, the platform published that it had used its massive Bitcoin stock as guaranteed to protect a credit ease of $ 100 million in Coinbase.
According to the CEO, this $ 100 million loan from the Coinbase credit branch made the first installation supported by Riot.
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