Riot Sees 104.8% YoY Revenue Jump in Q1 2025, EPS Disappoints

Riot Platform Inc, one of the most prominent and known Bitcoin mining publicly listed company has published its income and revenue for the Q1, 2025 in which its reported EPS has 48.18% less than the expectations yet its reported revenue is 1.11% greater than the estimates.

Riot achieved a remarkable revenue growth of 104.8% year-over-year (YoY), with Q1 2025 revenue reaching $161.40 million, up from $78.80 million in Q1 2024.

Riot’s quarterly revenue growth of 13.2% in Q1 2025, with revenue increasing to $161.40 million from $142.58 million in the previous quarter (Q4 2024).

Jason Les, the Chief Executive Officer of Riot Platform, said, “ Riot made strong progress on a number of key financial and strategic initiatives during the first quarter of 2025, which I am excited to announce today.”

He further adds, “ We achieved a new record for quarterly revenue this quarter, at $161.4 million, driven by the significant work our teams have put in during the preceding years, including the multi-year development of the first phase of our Corsicana Facility, significantly expanding our hash rate, and further enhancing our operating efficiency.”

The 4th halving pulled BTC revenue of the miner to a new high

According to the published information on Riot Platform’s website, the total Bitcoin miners by the company have reached 1,530 BTC, which was 1,364 in the same three months in 2024.

However the average cost to mine 1 Bitcoin was $23,034 in the same three months in 2024, but the cost to mine a single coin has reached $43,808 in the most recent quarter.

It is worth noting that the cost to mine a Bitcoin has surged due block subsidy, basically the 4th BTC halving that occured in April 2024.

Revenue from engineering in the Q1, 2025 has reached $13.9 million from $4.7 million in the same three months in the previous year, The growth is primarily attributed to the E4A Solutions, LLC, which was acquired by Riot in December 2024.

According to Coingecko, Riot Platform Inc. holds 18,692 Bitcoin, making it the 2nd largest BTC holdings mining

Riot Platform Stock Overview

As of writing, Nasdaq: RIOT was exchanging hands at $7.77 with a surge of 7.32%, but on the other hand it lost 13.47% of its price in the past six months and lost 25.21% in the year to date time frame.

Source: TradingView

The RIOT stock is still trading below 20, 50, 100 and 200 days exponential moving average, and in April 2025, Riot acquired Rhodium’s mining operations, repurposing 125 MW for self-mining and cutting nearly $15M in losses from a legacy contract.