Riot Platforms (NASDAQ: RIOT) Announces First Quarter 2025 Financial Results

Riot Platforms (Nasdaq: RIOT) released its first-quarter 2025 financial report, achieving total revenue of $161.4 million, primarily due to an increase in Bitcoin mining income to $142.9 million. During the quarter, the company produced 1,530 Bitcoins, with a unit mining cost (excluding depreciation) of $43,808, significantly higher than $23,034 in the same period last year, mainly affected by block reward halving and increased network hash rate. As of March 31, the company held 19,223 unrestricted Bitcoins. Additionally, the company continues to advance its data center project in Corsicana, Texas, with plans to build a total of 1 GW of power capacity, and completed the acquisition of Rhodium's mining machine assets at the Rockdale site in April.