Riot Announces April 2025 Production and Operations Updates

Rhea-AI Summary

In April 2025, Riot Platforms (NASDAQ: RIOT) produced 463 Bitcoin, marking a 13% decrease from March but a 23% increase year-over-year. The company's average daily Bitcoin production was 15.4 BTC. Riot made a strategic decision to sell 475 BTC at an average price of $81,731, generating $38.8 million in net proceeds. The company maintained a deployed hash rate of 33.7 EH/s, representing a 168% increase from April 2024. Notably, Riot completed the acquisition of Rhodium's tangible assets, including 125 MW of power capacity, marking its complete exit from the bitcoin mining hosting business. The company earned $2.0 million in total power credits and achieved an improved fleet efficiency of 21.0 J/TH, a 22% enhancement year-over-year.

Positive

• Strategic sale of 475 BTC at $81,731 average price, generating $38.8M in proceeds
• Year-over-year Bitcoin production increased by 23%
• Significant hash rate growth: 168% YoY increase to 33.7 EH/s
• 22% improvement in fleet efficiency year-over-year
• Total power credits increased to $2.0M, up 131% from previous month
• Acquisition of Rhodium assets adding 125 MW power capacity

Negative

• 13% decrease in monthly Bitcoin production compared to March 2025
• 3% decrease in average operating hash rate month-over-month
• Monthly Bitcoin sales may impact long-term holdings strategy

News Market Reaction

-5.84%

1 alert

-5.84% News Effect

On the day this news was published, RIOT declined 5.84%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Riot Produces 463 Bitcoin in April 2025

CASTLE ROCK, Colo., May 5, 2025 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announces unaudited production and operations updates for April 2025.

Bitcoin Production and Operations Updates for April 2025

							Comparison (%)
Metric			April 2025 1	March 2025 1	April 2024		Month/Month	Year/Year
Bitcoin Produced			463	533	375		-13 %	23 %
Average Bitcoin Produced per Day			15.4	17.2	12.5		-10 %	23 %
Bitcoin Held 2			19,2113	19,223	8,872		0 %	117 %
Bitcoin Sold			475	-	-		N/A	N/A
Bitcoin Sales - Net Proceeds			$38.8 million	-	-		N/A	N/A
Average Net Price per Bitcoin Sold			$81,731	N/A	N/A		N/A	N/A
Deployed Hash Rate - Total 2			33.7 EH/s	33.7 EH/s	12.6 EH/s		0 %	168 %
Avg. Operating Hash Rate - Total 4			29.3 EH/s	30.3 EH/s	8.8 EH/s		-3 %	234 %
Power Credits 5			$0.7 million	$0.2 million	$0.7 million		356 %	8 %
Demand Response Credits 6			$1.3 million	$0.7 million	$1.2 million		80 %	5 %
Total Power Credits			$2.0 million	$0.9 million	$1.9 million		131 %	6 %
All-in Power Cost - Total 7			3.7c/kWh	3.8c/kWh	3.6c/kWh		-3 %	4 %
Fleet Efficiency 2			21.0 J/TH	21.0 J/TH	27.0 J/TH		0 %	-22 %

1. Unaudited, estimated.
2. As of month-end.
3. Includes 1,900 in restricted bitcoin.
4. Average over the month.
5. Estimated power curtailment credits.
6. Estimated credits received from participation in ERCOT and MISO demand response programs.
7. Estimated. Inclusive of all transmission and distribution charges, fees, adders, and taxes. Net of Total Power Credits.

"Riot mined 463 bitcoin in April as the network experienced two successive difficulty adjustments during the month," said Jason Les, CEO of Riot. "April was a significant month for Riot as we closed on the acquisition of all of the tangible assets of Rhodium at our Rockdale Facility, including 125 MW of power capacity, and mutually ended all outstanding litigation. This transaction ends the hosting agreement with our last hosting client and marks the complete exit of Riot from the bitcoin mining hosting business.

"During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources considering a multitude of factors and prioritizing a strong balance sheet. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock. We will continue to monitor market conditions on an ongoing basis and utilize all tools available to best sustainably finance our business, while remaining committed to our long-term bitcoin treasury strategy, reflecting our strong conviction in Bitcoin's future potential."

Investor Events

• Texas Energy and Mining Summit, held in Austin, TX, May 6^th – 7^th.
• Needham 20^th Annual Technology Conference, held virtually, May 8^th – 12^th.
• AIM Summit London, held in London, UK, May 19^th – 20^th.
• B. Riley 25^th Annual Investor Conference, held in Los Angeles, CA, May 21^{st –} 22^nd.
• Bitcoin 2025, held in Las Vegas, NV, May 27^th – 29^th.

Human Resources Update

Riot is currently recruiting for positions across the Company. Join our team in building, expanding, and securing the Bitcoin network.

Open positions are available at: https://www.riotplatforms.com/careers.

About Riot Platforms, Inc.

Riot's (NASDAQ: RIOT) vision is to be the world's leading Bitcoin-driven infrastructure platform. Our mission is to positively impact the sectors, networks, and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes.

Riot is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas.

For more information, visit www.riotplatforms.com.

Safe Harbor

Statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions. Such statements rely on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "believes," "plans," "expects," "intends," "will," "potential," "hope," similar expressions and their negatives are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements relating to the Company's development at its Corsicana Facility and the Company's plans, projections, objectives, expectations, and intentions about future events and trends that it believes may affect the Company's financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation: risks related to the Company's growth, the anticipated demand for AI/HPC uses, the feasibility of developing the Company's power capacity for AI/HPC uses, competition in the markets in which the Company operates, market growth, the Company's ability to innovate and expand into new markets, the Company's ability to realize benefits from its implementation of new strategies into its business, estimates of Bitcoin production; our future hash rate growth (EH/s); the anticipated benefits, construction schedule, and costs associated with the development of our mining facilities in Texas, Kentucky and elsewhere; our expected schedule of new miner deliveries; our access to electrical power; the impact of weather events on our operations and results; our ability to successfully deploy new miners; the variance in our mining pool rewards may negatively impact our results of Bitcoin production; our megawatt capacity under development; risks related to the Company's inability to realize the anticipated benefits from immersion cooling; the inability to integrate acquired businesses successfully, or such integration may take longer or be more difficult, time-consuming or costly to accomplish than anticipated; or the failure of the Company to otherwise realize anticipated efficiencies and strategic and financial benefits from our business strategies. Detailed information regarding the factors identified by the Company's management which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release may be found in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the risks, uncertainties and other factors discussed under the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, and the other filings the Company makes with the SEC, copies of which may be obtained from the SEC's website, www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which the Company hereafter becomes aware, except as required by law. Persons reading this press release are cautioned not to place undue reliance on such forward-looking statements.

Investor Contact:
Phil McPherson
303-794-2000 ext. 110
IR@Riot.Inc

Media Contact:
Alexis Brock
303-794-2000 ext. 118
PR@Riot.Inc

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SOURCE Riot Platforms, Inc.

FAQ

How many Bitcoin did RIOT produce in April 2025?

Riot produced 463 Bitcoin in April 2025, averaging 15.4 BTC per day. This represents a 13% decrease from March 2025 but a 23% increase compared to April 2024.

What was RIOT's hash rate capacity in April 2025?

Riot maintained a deployed hash rate of 33.7 EH/s with an average operating hash rate of 29.3 EH/s in April 2025, representing a 168% increase in deployed hash rate year-over-year.

How many Bitcoin did RIOT sell in April 2025 and at what price?

Riot sold 475 Bitcoin in April 2025 at an average price of $81,731, generating net proceeds of $38.8 million.

What was the significance of RIOT's Rhodium acquisition in April 2025?

The Rhodium acquisition added 125 MW of power capacity and marked Riot's complete exit from the bitcoin mining hosting business, ending all outstanding litigation and hosting agreements.

How much did RIOT earn from power credits in April 2025?

Riot earned $2.0 million in total power credits in April 2025, consisting of $0.7 million in power credits and $1.3 million in demand response credits, representing a 131% increase from March.