Riot Platforms Sees Revenue Surge Amidst AI Shift, Facing Financial Pressures

Riot Platforms has reported significant revenue growth in Q1 2025, with a 103.5% jump to $161.4 million. However, the company also announced substantial net losses, driven by increased mining costs and investments into AI data centers. This strategic shift marks a key transition for Riot as they aim to meet rising demand from hyperscalers while navigating financial challenges.