Bitcoin mining agency Riot Platforms reported a web earnings of $104.5 million within the third quarter of 2025, reversing losses from earlier within the yr.
The corporate generated $180.2 million in income through the quarter ending September 30, a pointy enhance from the $84.8 million earned in the identical interval final yr.
The first driver was a $93.3 million increase in bitcoin mining income, with Riot mining 1,406 bitcoin in Q3, up from 1,104 in 2024.
Rising prices and hash charge influence
Riot’s outcomes come amid a 52% quarter-over-quarter enhance in international community hashrate, which pushed the typical price to mine every bitcoin to $46,324, up from $35,376 final yr.
A few of these larger prices have been offset by elevated energy credit.
The corporate’s adjusted EBITDA reached $197.2 million, with $133.1 million attributed to features on its bitcoin holdings.
Growth into knowledge facilities
CEO Jason Les highlighted the agency’s continued funding in its knowledge middle enterprise, together with improvement of the 112 MW Corsicana campus. Les acknowledged:
“Riot made decisive progress within the improvement of our knowledge middle enterprise this quarter. Collectively, these developments symbolize key developments in our efforts to rework Riot right into a large-scale, multi-faceted knowledge middle operator, in keeping with our technique of maximizing the worth of our distinctive portfolio of land and energy property.”
Sturdy bitcoin treasury place
Riot now maintains a large bitcoin treasury of almost 20,000 BTC, value over $2 billion, making it the second-largest holder amongst public mining corporations.
Regardless of these achievements, Riot’s inventory worth fell 4.87% on the day following the earnings announcement.