Riot Platforms Posts Mixed Q1 Results as Effects of Bitcoin Blockchain’s “Halving” Linger

Riot platforms booked mixed win results for the first quarter, because it has taken steps to reduce the effects of the headwind of mining sector on his company.

The Bitcoin mine worker clocked $ 161.39 million in income in the three-month period ending on March 31, an increase of 13% compared to the previous quarter, the company said Thursday in a statement. That is about 2% above the expectations of Wall Street of $ 160.72 million.

The total turnover of the company was largely stimulated by his Bitcoin mining income, which jumped 100% in the first quarter of the first quarter.

“We have achieved a new record for quarterly income … Driven by the important work that our teams have introduced in previous years,” said Riot CEO Jason Les, adding that his company had recently increased mining options and operational efficiency.

Nevertheless, Riot swung to a loss of $ 296.4 million, or $ 0.90 per share, for the period – significantly below the $ 136.44 million net income that the company reported in the fourth quarter of 2024.

The Bitcoin mining yields of the company also remained virtually unchanged from a quarter to quarter. Riot mined 1,530 Bitcoin for the first quarter – only 1% more than the 1,516 that it had mined it in the previous quarter.

Riot Platform now has 19,223 Bitcoin worth around $ 1.87 billion from the moment of writing.

Bitcoin was recently traded at $ 97,222, an increase of 65% in the past year, Coentecko facts Shows. Riot shares rose on Friday afternoon by 11.65% to act at $ 8.67, according to Yahoo Finance.

Riot’s mixed results from the first quarter came when the miner took steps to push the negative effects of “The Halving” About his mining company.

In April 2024, the Bitcoin -Blockchain cut in half the amount of BTC that was rewarded to miners who protect his network, which increases the difficulty and costs of Bitcoin mining.

Riot, however, continued to build his Corsicana facility to meet the rising skills and capital requirements of mining on the Bitcoin -Blockchain. In addition, Bitcoin prices were higher on average In the first quarter of 2025, compared to the quarter of the year, it increased the profitability of the company’s mining activities.

As a result, Riot achieved $ 142.9 million in the income of token in the first quarter in the first quarter, compared to $ 71.4 million in the same time last year.

Riot’s performance also last quarter came to the midst of a lawsuit Brought against the company by its bankrupt competitor Rhodium – a judicial battle that the miner cost more than $ 8 million in litigation costs in the first quarter.

Riot, however, acquired different assets from Rhodium last month – a strategic movement that effectively puts an end to a lawsuit between the companies and Oproer will save money, according to lessons.

Published by James Rubin