{"id":19728,"date":"2025-05-02T05:29:36","date_gmt":"2025-05-02T05:29:36","guid":{"rendered":"https:\/\/gold.creditcard\/riot-platforms-posts-q1-loss-beats-revenue-estimates\/"},"modified":"2025-05-02T05:29:36","modified_gmt":"2025-05-02T05:29:36","slug":"riot-platforms-posts-q1-loss-beats-revenue-estimates","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/riot-platforms-posts-q1-loss-beats-revenue-estimates\/","title":{"rendered":"Riot Platforms posts Q1 loss, beats revenue estimates"},"content":{"rendered":"

Bitcoin miner Riot Platforms has reported its highest-ever quarterly revenue, but still posted a loss as mining costs have nearly doubled compared to the same time last year and it moves to bolster its facilities.<\/p>\n

\u201cWe achieved a new record for quarterly revenue this quarter, at $161.4 million,\u201d Riot CEO Jason Les said<\/a> in a May 1 report for its first quarter 2025 earnings. The company just surpassed Wall Street estimates<\/a> of $159.79 million by 1%.<\/p>\n

Riot\u2019s Q1 revenue was a 50% jump compared to the same quarter a year ago.<\/p>\n

Riot blames \u201chalving event\u201d for expenses<\/h2>\n

The firm reported a net loss of $296,367 over Q1, a 240% decrease from the $211,777 net income it posted in the year-ago quarter.<\/p>\n

Riot said that the average cost to mine Bitcoin (BTC<\/a>) over the quarter was $43,808, almost 90% more than the $23,034 it cost to mine Bitcoin in the same period last year.<\/p>\n

\u201cThe increase was primarily driven by the block subsidy \u2018halving\u2019 event, which occurred in April 2024, and a 41% increase in the average global network hashrate as compared to the same period in 2024,\u201d Riot said.<\/p>\n

Shares in Riot Platforms (RIOT) closed May 1 trading up 7.32%, trading at $7.77, according<\/a> to Google Finance.<\/p>\n

Riot Platforms is down 13.47% over the past six months. Source: <\/em>Google Finance<\/em><\/a><\/p>\n

Meanwhile, Riot produced 166 more Bitcoin during the quarter than it did over the same period in 2024. At the time of publication, with Bitcoin trading at $97,072, that equates to approximately $16.13 million.<\/p>\n

Related: <\/strong><\/em>Bitcoin miner Phoenix Group adds 52 MW of mining capacity in Ethiopia<\/strong><\/em><\/a><\/p>\n

Riot currently holds 19,223 unencumbered Bitcoin, worth approximately $1.86 billion at the time of publication.<\/p>\n

On April 23, Riot announced that it had used its massive Bitcoin stockpile<\/a> as collateral to secure a $100 million credit facility from Coinbase as the cryptocurrency miner eyes continued expansion.\u00a0<\/p>\n

Les said the $100 million loan from Coinbase\u2019s credit arm marked Riot\u2019s \u201cfirst Bitcoin-backed facility.\u201d<\/p>\n

Magazine: <\/strong><\/em>Japanese porn star\u2019s coin red flags, Alibaba-linked L2 runs at 100K TPS: Asia Express<\/strong><\/em><\/a><\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin miner Riot Platforms has reported its highest-ever quarterly revenue, but still posted a loss as mining costs have nearly doubled compared to the same time last year and it moves to bolster its facilities. \u201cWe achieved a new record for quarterly revenue this quarter, at $161.4 million,\u201d Riot CEO Jason Les said in a […]<\/p>","protected":false},"author":0,"featured_media":19729,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-19728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=19728"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/19729"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=19728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=19728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=19728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}