Riot Platforms reported monetary outcomes for the quarter ending September 30, 2025, and the numbers had been heavy.
The corporate’s gross sales had been $180.2 million, up from $84.8 million in the identical interval final yr.
Riot additionally reported internet revenue of $104.5 million, equal to $0.26 per diluted share. This in comparison with a lack of $154.4 million, or $0.54 per diluted share, within the third quarter of 2024. This modification was primarily pushed by the rise in Bitcoin mining income and the present worth of the corporate’s Bitcoin holdings.
Riot stated it produced 1,406 Bitcoins within the quarter, up from 1,104 Bitcoins in the identical interval final yr. The corporate held 19,287 Bitcoins as of September 30, 2025, of which roughly 3,300 Bitcoins had been used as collateral.
Primarily based on at present’s Bitcoin market worth of $114,068, Riot’s holdings are valued at roughly $2.2 billion. The corporate additionally ended the quarter with $170 million in working capital, $330.7 million in unrestricted money and $75.6 million in restricted money.
Riot expands knowledge middle improvement
Riot stated this quarter’s progress occurred in parallel with main steps in its knowledge middle improvement plan.
CEO Jason Les stated the corporate is continuing with building of the core and shell of the primary two buildings at its Corsicana knowledge middle campus, which, when operational, will assist a mixed 112 megawatts of great IT load.
“Riot made important progress within the improvement of our knowledge middle enterprise this quarter. This progress culminated at present with us saying the beginning of core and shell improvement on the primary two buildings of our Corsicana knowledge middle campus, representing a complete of 112 MW of great IT capability,” stated Les.
He stated the corporate achieved 4 key accomplishments associated to Corsicana’s enlargement this quarter.
- A brand new 67-acre parcel of land was acquired adjoining to the unique web site.
- The design of your entire Corsicana campus has been accomplished.
- The muse of the design that will likely be used as Riot’s normal knowledge middle building template has been accomplished.
- We continued to develop and workers our inner knowledge middle workforce to assist our build-out and enlargement.
Much less stated these strikes assist the corporate’s plans to remodel Riot right into a large-scale knowledge middle operator with direct ties to land and energy entry methods.
Mining income will increase as value strain continues
The corporate reported Bitcoin mining income of $160.8 million, up from $67.5 million in the identical quarter in 2024. This enhance is because of a rise within the common worth of Bitcoin and a rise in Riot’s working hashrate.
Nonetheless, the corporate identified that the common hash price of its international community additionally elevated throughout the identical interval, which partially restricted the upside in income.
The typical value to mine one Bitcoin (excluding depreciation and amortization) was $46,324 this quarter, in comparison with $35,376 final yr. Riot primarily attributes this enhance to a 52% enhance within the international community’s hash price from final yr.
This was partially offset by a 147% enhance in electrical energy credit the corporate obtained within the third quarter of 2025 in comparison with the third quarter of 2024.
Riot reported engineering income of $19.1 million for the quarter, up from $12.6 million in Q3 2024. The corporate introduced that since buying ESS Metron in December 2021, it has achieved $23 million in capital funding financial savings straight associated to that acquisition.
Riot additionally reported non-GAAP adjusted EBITDA of $197.2 million. This contains $133.1 million in Bitcoin income held on its steadiness sheet.
