Bitcoin Miner Riot Platforms has informed its highest quarterly revenue ever, but still spreads a loss as mining costs have doubled compared to the same time last year and moved to boost its facilities.
“We have achieved a new record for quarterly revenue in this quarter, at 161.4 million dollars,” He said In the May 1 report on its profits in the first quarter of 2025. The company just exceeded Wall Street Estimates From 159.79 million dollars by 1 %.
The Riot Q1 revenues served as a 50 % jump compared to the same quarter last year.
Riot blame “Half Half” for expenses
The company reported a net loss of $ 296,367 from Q1, a decrease of 240 % from the net net income he recorded in the previous quarter in the previous quarter.
RIOT said that the average Bitcoin (BTC) cost over the quarter was $ 43,808, or nearly 90 % more than 23,034 dollars Bitcoin cost in the same period last year.
“The increase was mainly driven by the” half “event that occurred in half, which occurred in April 2024, and an increase of 41 % in the average global network fragmentation compared to the same period in 2024.”
The stocks on riot platforms (RIOT) closed May 1, trading by 7.32 %, trading at $ 7.77, According to To Google Finance.
Meanwhile, Riot 166 Bitcoin produced during the quarter of what it was during the same period in 2024. At the time of publication, with Bitcoin trading at $ 97,072, equivalent to about $ 16.13 million.
Related to: The Bitcoin Group adds Phoenix 52 MW of mining capacity in Ethiopia
RIOT currently owns the unjustified 19223 Bitcoin, which is worth about $ 1.86 billion at the time of publication.
On April 23, RIOT announced that it used the huge Bitcoin stock as a guarantee to secure $ 100 million credit facilities from Coinbase with the continued expansion of the cryptocurrency.
Les said that the loan of $ 100 million in Coinbase’s credit arm was the “first Bitcoin” facility.
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