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 % | ||||
- Unaudited, estimated.
- As of month-end.
- Includes 3,300 in restricted bitcoin.
- Average over the month.
- Estimated power curtailment credits.
- Estimated credits received from participation in ERCOT and MISO demand response programs.
- Estimated. Inclusive of all transmission and distribution charges, fees, adders, and taxes. Net of Total Power Credits.
- 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 15th Annual London Conference, held in London, UK, June 24 th - 26th.
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
[email protected]
Media Contact:
Alexis Brock
303-794-2000 ext. 118
[email protected]
SOURCE Riot Platforms, Inc.
