Riot Platforms Records Record Revenue But Reports Losses Amidst Mining Cost Challenges

Riot Platforms, the leading Bitcoin mining firm in North America, just reported its highest-ever quarterly revenue. However, the company also announced a loss due to significantly rising mining costs. 2025 Q1 saw an impressive 50% surge in revenue compared to the same period last year, reaching $161.4 million. However, this success came with losses as mining expenses almost doubled year-over-year, contributing to net income decline. 60% of this increase can be attributed to the halving event that took place in April 2024.