Riot reports $180.2 million in revenue in Q3, with $104.5 million in net income

Riot Platforms reported its financial results for the quarter ending September 30 2025 and the numbers came in ￰0￱ company posted $180.2 million in revenue up from $84.8 million in the same quarter last ￰1￱ also reported net income of $104.5 million

equal to $0.26 per diluted share compared to a $154.4 million loss or $(0.54) per diluted share in Q3 ￰2￱ shift was driven mainly by stronger Bitcoin mining revenue and the current value of Bitcoin it ￰3￱ said it produced 1,406 bitcoin in the quarter up from 1,104 mined in the same period last ￰4￱ company held 19,287 bitcoin as of September 30 ￰5￱ 3,300 bitcoin from that total are being used as ￰6￱ on a Bitcoin market price of $114,068 on that date

Riot’s holdings were valued at around $2.2 ￰7￱ company also ended the quarter with $170.0 million in working capital $330.7 million in unrestricted cash and $75.6 million in restricted ￰8￱ expands data center development Riot said the growth this quarter came alongside major steps in its data center development ￰9￱ Jason Les said the company is moving ahead with the core and shell construction of the first two buildings at its Corsicana data center campus which together will support 112 megawatts of critical IT load when ￰10￱ stated

“Riot made decisive progress in the development of our data center business this ￰11￱ progress has culminated in announcing today the initiation of the core and shell development of the first two buildings at our Corsicana data center campus representing 112 MW of total critical IT capacity.” He said the company reached four key achievements this quarter connected to the Corsicana expansion: Acquired a new 67‑acre land parcel adjacent to the original ￰12￱ the full campus design for ￰13￱ the Basis of Design that will be used as Riot’s standard data center build ￰14￱ expanding and staffing its in‑house data center team to support construction and ￰15￱ said these moves support the company’s plan to transform Riot into a large‑scale data center operator linked directly to its land and power access ￰16￱ revenue increases while cost pressures continue The company reported $160.8 million in Bitcoin mining revenue

up from $67.5 million in the same quarter in ￰17￱ increase came from higher average Bitcoin prices and increases in Riot’s operational hash ￰18￱ company noted however that the average global network hash rate also increased during the same period which limited some of the revenue ￰19￱ average cost to mine one bitcoin

excluding depreciation was $46,324 this quarter compared to $35,376 last ￰20￱ linked this rise mainly to a 52% increase in the global network hash rate from last ￰21￱ was partly offset by a 147% increase in power credits the company received in Q3 2025 compared to Q3 ￰22￱ reported $19.1 million in engineering revenue for the quarter up from $12.6 million in Q3 ￰23￱ purchasing ESS Metron in December 2021

the company said it has achieved $23.0 million in capex savings tied directly to that ￰24￱ also reported Non‑GAAP Adjusted EBITDA of $197.2 million which includes a $133.1 million gain on Bitcoin held on its balance ￰25￱ you're reading this you’re already ￰26￱ there with our newsletter .