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Riot Platforms reports $296M net loss in Q1 despite record revenues – TON BOT

Riot Platforms reports $296M net loss in Q1 despite record revenues

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Riot Platforms reported record revenue of $161.4 million in the first quarter of 2025, attributing the growth to higher Bitcoin prices, expanded hash rate capacity, and improvements at its Corsicana Facility. Despite the record revenue, Riot posted a net loss of $296.4 million, with adjusted EBITDA falling to negative $176.4 million. Production of Bitcoin increased to 1,530 BTC, but the cost to mine each Bitcoin also rose significantly. Riot acquired Rhodium Enterprises’ mining operations and is transitioning its Corsicana Facility into an AI and HPC hub. The company is focused on becoming a leading Bitcoin-driven infrastructure platform.

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