You Won’t Believe How Much Riot Platforms Made in Q1 2025—Is Bitcoin the New Beyoncé?

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Hold onto your yoga pants, because Riot Platforms just doubled their Bitcoin mining revenue to $142.9 million compared to $71.4 million last year. Sure, some people invest in stocks, but Riot basically prints digital money and calls it Tuesday. 🤑

They mined 1,530 shiny new BTC in Q1 2025, up from 1,364 BTC last year. Is that a huge jump? Not really, but every Bitcoin counts when you’re ordering gold-plated avocado toast. The catch? Each Bitcoin cost them $43,808 to produce, up from $23,034. That’s a 90% increase, thanks to the April 2024 crypto “halving”—which, for the uninitiated, is like The Hunger Games for computers. And the global hash rate went up 41%, meaning everyone’s computer wants a piece of the action.

CEO Jason Les says it’s all thanks to Riot’s big bets—such as turning the Corsicana Facility into a 1.0 GW Bitcoin factory. That’s “gigawatt,” not “grandma watt,” in case you were picturing your nana with a flashlight. Plus, Riot is nosediving into high-performance computing and AI, probably so they can replace their interns with robots that don’t ask for coffee breaks.

Meanwhile, Riot acquired Rhodium’s mining operations at the Rockdale Facility. Translation: they stopped setting money on fire ($15 million in annual losses from bad power contracts and lawsuits). 🚒

How’s Riot doing at the checkout? Pretty well, with $310.3 million in working capital and a digital piggy bank stuffed with 19,223 BTC—worth around $1.6 billion. That’s more Bitcoin than you’ll ever lose on your old phone. Basically, Riot is now the overachieving kid everyone pretends not to hate at the science fair. 🎓

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2025-05-02 21:09