Riot Platforms Posts Record Revenue, Deepens Mining and AI Infrastructure Moves

Riot Platforms delivered a substantial revenue surge in 2025, reporting $647.4 million, an increase of 72% from $376.7 million in the prior year. The gain was almost entirely mining-driven: Bitcoin mining revenue jumped $255.3 million to $576.3 million, reflecting a combination of expanded operational hashrate and a bullish average Bitcoin price. Riot produced 5,686 BTC during 2025 versus 4,828 BTC in 2024, even though the average cost per mined Bitcoin rose to $49,645 from $32,216. Production gains and higher bitcoin realizations fed a $1.6 billion valuation for Riot's 18,005 BTC balance-sheet holdings, using the December 31 price of $87,498. Notably, 3,977 BTC of that inventory is tied up as collateral. Riot remains highly liquid in crypto terms but now also channels capital beyond pure mining. January brought both a data-center agreement with AMD and a land acquisition in Rockdale, Texas—funded by recent Bitcoin sales—to secure 200 acres for future data-center and AI deployments.