Riot Announces May 2025 Production and Operations Updates

Rhea-AI Summary

Riot Platforms reported strong Bitcoin mining performance in May 2025, producing 514 BTC, an 11% increase from April and 139% year-over-year growth. The company sold 500 BTC at an average price of $102,591, generating $51.3M in net proceeds. Riot's deployed hash rate reached 35.4 EH/s, up 142% year-over-year, while maintaining 19,225 BTC in holdings. The company's operational efficiency improved with fleet efficiency at 21.2 J/TH, a 24% improvement from the previous year. Additionally, Riot acquired 355 acres near its Corsicana site for data center expansion and appointed Jonathan Gibbs as Chief Data Center Officer to lead their hyperscale and enterprise-focused data center platform development.

Positive

• Bitcoin production increased 11% month-over-month and 139% year-over-year to 514 BTC
• Strong Bitcoin sales with 500 BTC sold at $102,591 average price, generating $51.3M in proceeds
• Significant hash rate growth with deployed capacity up 142% YoY to 35.4 EH/s
• Fleet efficiency improved 24% YoY to 21.2 J/TH
• Strategic 355-acre land acquisition for data center expansion
• Appointment of experienced Chief Data Center Officer for platform development

Negative

• Power costs increased 95% year-over-year to 3.8c/kWh
• Total power credits decreased 70% year-over-year to $2.2M
• Demand response credits declined 49% year-over-year to $1.6M

Insights

Cryptocurrency Mining Analyst

Riot's May report shows strong Bitcoin production growth, successful diversification into data centers, with improving operational metrics despite higher power costs.

Riot's May performance reflects significant operational momentum with 514 Bitcoin mined, representing an 11% month-over-month and 139% year-over-year increase. The company's strategic balance sheet management is evident as they sold 500 Bitcoin at an impressive average price of $102,591 per Bitcoin (a 26% improvement from April), generating $51.3 million in proceeds while still maintaining a substantial 19,225 Bitcoin reserve.

On the infrastructure front, Riot continues expanding its operational capacity with deployed hash rate reaching 35.4 EH/s, a 5% monthly increase and 142% year-over-year growth. The company's average operating hash rate of 31.5 EH/s shows they're effectively utilizing about 89% of their deployed capacity, indicating solid operational efficiency.

Importantly, the acquisition of 355 acres near their Corsicana site represents a strategic pivot toward high-performance computing (HPC) data centers, potentially diversifying revenue streams beyond Bitcoin mining. This expansion, coupled with the hiring of experienced data center industry veteran Jonathan Gibbs as Chief Data Center Officer, signals Riot's commitment to becoming a comprehensive digital infrastructure provider serving hyperscale and enterprise clients.

The company's power management shows some challenges, with total power credits decreasing 70% year-over-year to $2.2 million and all-in power costs nearly doubling to 3.8c/kWh compared to May 2024. However, their fleet efficiency improved by 24% year-over-year (from 28.0 J/TH to 21.2 J/TH), partially offsetting these higher energy costs through more efficient mining equipment.

Riot Produces 514 Bitcoin in May 2025

CASTLE ROCK, Colo., June 3, 2025 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), a Bitcoin-driven industry leader in the development of large scale data centers for high performance compute and bitcoin mining applications, announces unaudited production and operations updates for May 2025.  

Bitcoin Production and Operations Updates for May 2025

								Comparison (%)
	Metric			May 2025 1	April 2025 1	May 2024 1		Month/Month	Year/Year
	Bitcoin Produced			514	463	215		11 %	139 %
	Average Bitcoin Produced per Day			16.6	15.4	6.9		8 %	139 %
	Bitcoin Held 2			19,225 3	19,211	9,084		0 %	112 %
	Bitcoin Sold			500	475	-		5 %	N/A
	Bitcoin Sales - Net Proceeds			$51.3 million	$38.8 million	-		32 %	N/A
	Average Net Price per Bitcoin Sold			$102,591	$81,731	N/A		26 %	N/A
	Deployed Hash Rate - Total 2			35.4 EH/s	33.7 EH/s	14.7 EH/s		5 %	142 %
	Avg. Operating Hash Rate - Total 4			31.5 EH/s	29.3 EH/s	8.8 EH/s		7 %	260 %
	Power Credits 5			$0.6 million	$0.7 million	$4.0 million		-22 %	-85 %
	Demand Response Credits 6			$1.6 million	$1.3 million	$3.1 million		22 %	-49 %
	Total Power Credits			$2.2 million8	$2.0 million	$7.1 million		6 %	-70 %
	All-in Power Cost - Total 7			3.8c/kWh8	3.7c/kWh	1.9c/kWh		2 %	95 %
	Fleet Efficiency 2			21.2 J/TH	21.0 J/TH	28.0 J/TH		1 %	-24 %

1. Unaudited, estimated.
2. As of month-end.
3. Includes 3,300 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.
8. Total power credits and all-in power cost for May 2025 exclude the Blue Steel site.

"In May, Riot made significant progress across our bitcoin mining and data center platforms," said Jason Les, CEO of Riot. "Riot mined 514 bitcoin in May, an 11% increase over the previous month, and we will continue to prioritize operational excellence as we head into the summer months in Texas and Kentucky.

"Riot also achieved key milestones in our data center platform in May. During the month, Riot successfully closed on the acquisition of 355 acres in near proximity to our Corsicana site. This additional land will further support the development of data centers to serve high performance compute, which typically require larger footprints than bitcoin mining to utilize the same power capacity. We will continue to look to strategically add additional land parcels to ensure that our Corsicana site is ideally suited to support designs for data centers that serve the needs of hyperscale and enterprise tenants.

"Riot has also made several key experienced hires from the data center industry to further enhance our internal development expertise, including the recently announced hiring of Jonathan Gibbs as Chief Data Center Officer. In this role, Jonathan will lead the strategic development and operations of our new data center platform, which will focus on building and operating state-of-the-art data centers specifically tailored to serve hyperscale and enterprise tenants. Jonathan is a veteran of the data center industry and brings deep experience in leading the design and development of large-scale data centers totaling more than one gigawatt of capacity."

Investor Events

• Piper Sandler Global Exchange & Trading Conference held in New York, NY, June 5^th.
• Rosenblatt Securities Virtual Tech Summit, held virtually, June 11^th.
• Northland Growth Conference, held virtually, June 25^th.
• Roth 15^th Annual London Conference, held in London, UK, June 24^th – 26^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 mine in May 2025?

Riot mined 514 Bitcoin in May 2025, representing an 11% increase from April 2025 and a 139% increase year-over-year.

What was RIOT's Bitcoin holdings as of May 2025?

Riot held 19,225 Bitcoin as of May 2025, including 3,300 in restricted bitcoin.

How much did RIOT earn from Bitcoin sales in May 2025?

Riot earned $51.3 million in net proceeds from selling 500 Bitcoin at an average price of $102,591 per Bitcoin.

What is RIOT's current deployed hash rate?

Riot's total deployed hash rate reached 35.4 EH/s in May 2025, a 5% increase from April and 142% increase year-over-year.

What strategic developments did RIOT announce for its data center business?

Riot acquired 355 acres near its Corsicana site for data center expansion and appointed Jonathan Gibbs as Chief Data Center Officer to lead their hyperscale platform development.