Riot Platforms, Inc. RIOT
About Riot Platforms, Inc. (RIOT)
RIOT Stock News
Riot Announces March 2025 Production and Operations Updates
Riot Platforms reported a production of 533 Bitcoins in March 2025, marking a post-halving record and a 13% month-over-month increase. The company also saw a 3% rise in Bitcoin holdings, hitting 19,223. Additionally, a feasibility study by Altman Solon highlighted the potential of Riot's Corsicana Facility for AI and HPC uses due to its significant power capacity and proximity to Dallas. Riot is actively recruiting for various positions to support its expanding operations.
Riot Platforms Announces Entry into Non-Binding Term Sheet to Acquire Certain Assets of Rhodium and Settlement Agreement
Riot Platforms has announced a non-binding term sheet for the proposed acquisition of assets from Rhodium Encore at its Rockdale Facility. The deal involves Whinstone US, a Riot subsidiary, acquiring assets for $185 million in cash, security deposit return, and Riot shares. In return, Rhodium will transfer assets and vacate the site, with Riot assuming 125 MW of power capacity. The acquisition is pending bankruptcy court approval and the execution of definitive agreements.
Riot Announces February 2025 Production and Operations Updates
Riot Platforms, Inc. produced 470 Bitcoins in February 2025, a 12% increase compared to the same month last year, despite a production decrease of 11% from January. The company held 18,692 Bitcoins by month-end, up 132% year-on-year. Riot's total deployed hash rate reached 33.6 EH/s, reflecting a 171% annual growth. Power credits totaled $2.8 million, indicating a 196% rise compared to February 2024. Planned maintenance and lower power credits contributed to reduced earnings.
Riot Platforms Reports Full Year 2024 Financial Results, Current Operational and Financial Highlights
Riot Platforms, a leading Bitcoin mining company, announced record financial results for 2024. Total revenue reached $376.7 million, a significant increase from the previous year. The company produced 4,828 Bitcoin and achieved a net income of $109.4 million. Riot's cost to mine Bitcoin averaged $32,216 per coin. The company also increased its Bitcoin holdings by 141%, ending the year with 17,722 Bitcoin. Riot plans to maximize its power assets for AI opportunities in 2025.
Riot Platforms Announces Changes to Its Board of Directors and Provides Update on Formal Evaluation of AI/HPC Uses
Riot Platforms has appointed Jaime Leverton, Doug Mouton, and Michael Turner to its Board of Directors, enhancing expertise in converting Bitcoin operations for AI and high-performance computing uses. The move follows advice from Starboard Value LP and The D. E. Shaw Group. Riot is working with Evercore and Northland Capital Markets to evaluate its AI/HPC potential at its Texas facility. Current directors Hannah Cho and Hubert Marleau will retire. The board changes are effective immediately.