- The riot platforms witnessed the highest quarterly revenue ever, but they reported losses.
- Comparison of the value from the Q1, 2024, the platform revenues increased by about 50 %.
Riot control platformsThe largest Bitcoin mining platform in North America has witnessed the highest quarterly revenue ever. Despite this teacher, the company reported losses as mining costs have almost doubled on an annual basis.
The CEO of Riot Platforms, Jasos Les, revealed the Q1 profit report, 2025 on May 1, and we mentioned that we achieved a new record for quarterly revenues in the first quarter at 161.4 million dollars.
Comparison of the value from the Q1, 2024, the platform revenues increased by about 50 %. The net loss reached 296,367 dollars, a decrease of 240 % from the net income recorded in the same period last year.
The half -event affects RIOT margins
The platform stated that the average cost of BTC mine this quarter was 43,808 dollars, and during the same period last year, it was about 23.034 dollars, which constitutes a rise of 90 %. This increase was mainly due to the half -support event that occurred in April 2024.
The average global network fragmentation has also seen 41 % on an annual basis. In this quarter, Riot 166 BTC was made compared to last year.
At the time of the press, the price Bitcoin It has been hovering about 96,658 dollars, about 1.13 % in the past 24 hours. The volume also pointed to an increase of 9.50 %, reaching 32.42 billion dollars. The total market value is $ 1.92 trillion.
In the current scenario, RIOT owns nearly 192222220 of the unrestricted bitcoin, which is estimated at $ 1.86 billion. Last week, the platform published that it used the huge Bitcoin stored as a guarantee to protect a $ 100 million credit facility from Coinbase.
According to the CEO, this loan of $ 100 million of Coinbase’s credit arm made the first Bitcoin facility.
The news of the encryption was highlighted today:
The American Treasury is moving to ban the Huione group on the relations of crypto
