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    Home»Bitcoin»Riot Platforms Posts Combined Q1 Outcomes as Results of Bitcoin 'Halving' Linger – Decrypt
    Riot Platforms Posts Combined Q1 Outcomes as Results of Bitcoin 'Halving' Linger – Decrypt
    Bitcoin

    Riot Platforms Posts Combined Q1 Outcomes as Results of Bitcoin 'Halving' Linger – Decrypt

    By Crypto EditorMay 2, 2025No Comments3 Mins Read
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    Riot Platforms Posts Combined Q1 Outcomes as Results of Bitcoin 'Halving' Linger – Decrypt

    Briefly

    -Riot Platforms’ reported blended earnings outcomes for the primary quarter of 2025. 
    -The corporate clocked $161.39 million within the quarter, barely beating analysts’ expectations. 
    -Riot’s Bitcoin mining income jumped to $142.9 million for the interval, up from $71.4 million throughout the identical time final yr.

    Riot Platforms posted blended earnings outcomes for the primary quarter because it took steps to mitigate the results of mining business headwinds on its enterprise. 

    The Bitcoin miner clocked $161.39 million in income within the three-month interval ending on March 31, up 13% from the earlier quarter, the agency stated Thursday in a press release. That is roughly 2% above Wall Road’s expectations of $160.72 million. 

    The corporate’s complete income was largely boosted by its Bitcoin mining revenue, which jumped 100% within the first quarter from the year-prior quarter. 

    “We achieved a brand new report for quarterly income…pushed by the numerous work our groups have put in through the previous years,” Riot CEO Jason Les stated, including that his firm had just lately boosted its mining capabilities and operational effectivity. 

    Nonetheless, Riot swung to a lack of $296.4 million, or $.90 per share, for the interval—considerably under the $136.44 million web revenue the corporate reported within the fourth quarter of 2024. 

    The corporate’s Bitcoin mining yields additionally remained just about unchanged from quarter to quarter. Riot mined 1,530 Bitcoin for the primary quarter—simply 1% greater than the 1,516 it had mined within the earlier quarter. 

    Riot Platform now holds 19,223 Bitcoin price roughly $1.87 billion as of the time of writing. 

    Bitcoin was just lately buying and selling at $97,222, up 65% previously yr, CoinGecko knowledge reveals. Riot shares have been up 11.65% early Friday afternoon to commerce at $8.67, in line with Yahoo Finance. 

    Riot’s blended first-quarter outcomes got here because the miner has taken steps to push by the unfavorable results of “the halving” on its mining enterprise. 

    In April 2024, the Bitcoin blockchain minimize in half the quantity of BTC rewarded to miners who safe its community, growing the problem and price of Bitcoin mining. 

    Nevertheless, Riot has continued to construct out its Corsicana Facility to fulfill the rising talent and capital calls for of mining on the Bitcoin blockchain. As well as, Bitcoin costs averaged larger within the first quarter of 2025, as in comparison with the year-prior quarter, growing the profitability of the corporate’s mining actions.  

    Consequently, Riot notched $142.9 million in token mining income within the first quarter, in comparison with $71.4 million throughout the identical time final yr.

    Riot’s efficiency final quarter additionally got here amid a lawsuit introduced towards the agency by its bankrupt competitor Rhodium—a court docket battle that value the miner greater than $8 million in litigation prices within the first quarter.

    Nevertheless, Riot acquired a number of belongings belonging to Rhodium final month—a strategic transfer that successfully ends litigation between the corporations and can save Riot cash shifting ahead, in line with Les.  

    Edited by James Rubin

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