NASDAQ$RIOT

Riot Platforms Inc · Q2 2025 earnings

Q2 2025 earnings · · After market close · Investor relations

Briefing

Riot Platforms reported strong Q2 2025 results driven by higher bitcoin prices and expanded mining capacity.

Riot Platforms achieved revenue of $153.0 million in Q2 2025, with net income of $219.5 million primarily due to a $470.8 million gain from the change in fair value of bitcoin holdings. Bitcoin production reached 1,426 BTC as deployed hash rate grew 61% year-over-year to 35.4 EH/s. The company also completed the Rhodium asset acquisition and settlement while advancing AI/HPC development plans at Corsicana.

  • Bitcoin Mining revenue rose 153% YoY to $140.9 million on higher bitcoin prices averaging $98,800 and 68.9% higher production.
  • Deployed hash rate increased 61% YoY to 35.4 EH/s across Rockdale, Corsicana, and Kentucky facilities.
  • Net income of $219.5 million included a $470.8 million unrealized gain on bitcoin holdings.
  • Completed Rhodium Settlement acquiring 125 MW capacity and miners while terminating legacy hosting contracts.

Headline financials

Total Revenue

$153M

Previous: $70M+118.5%
EPS (adj)

$0.65

Previous: -$0.32+303.1%
Bitcoin Produced

1.4K

No prior period
Capital Expenditures

-$93.2M

Previous: -$111M+15.9%
Net Income

$219M

Previous: -$84.4M+359.9%
Operating Income

$216M

Previous: -$117M+284.7%
Cash & Equivalents

$255M

No prior period
Total Assets

$4.29B

No prior period

Revenue & EPS history

Riot · Revenue · Quarterly

$153M

Q2 2025+118.5%vs Q2 2024
Beat estimate in 6 of 16 quarters(38%)
ActualEstimate

Revenue by segment

Riot · $151M total across 2 segments · Q2 2025

  • Bitcoin Mining
    $141M
  • Engineering
    $10.6M

Forward guidance

No explicit quantitative guidance provided.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

-1.5%

Avg return

Earnings day

-1.2%

Avg return

5 days after

+9.1%

Avg return

30 days after

35%

14 / 40 earnings

Positive

+37.3%

Q4 2018

Best reaction

-20.3%

Q2 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026+7.9%+27.3%+69.6%
Q4 2025-4.3%-13.8%-21.7%
Q3 2025-5.6%-10.1%-23.5%
Q1 2025+7.8%+0.9%+3.9%
Q4 2024-6.7%-7.1%-22.2%
Q3 2024-15.0%-17.4%+16.4%
Q2 2024-10.1%-19.9%-27.4%
Q1 2024+1.9%+6.5%-3.7%
Q4 2023-1.7%+11.3%-24.5%
Q3 2023-6.6%-5.9%+35.1%
Q2 2023-12.2%-14.2%-35.9%
Q1 2023-6.4%-3.1%-9.7%
Q4 2022+3.3%+0.5%+62.7%
Q3 2022-7.9%-7.8%-27.1%
Q2 2022-7.7%-27.0%-23.9%
Q1 2022-10.8%+3.9%-28.7%
Q4 2021+23.6%+31.6%+0.4%
Q3 2021-16.5%-18.1%-41.5%
Q2 2021+9.6%+12.4%-16.3%
Q1 2021-1.8%-12.2%+31.4%
Q4 2020+1.0%-10.1%-46.6%
Q3 2020-5.5%+9.0%+142.5%
Q2 2020-4.0%+0.3%-21.8%
Q1 2020-13.5%+12.4%+67.6%
Q4 2019+2.3%-0.8%+56.6%
Q3 2019-1.3%-1.3%-13.7%
Q2 2019+2.8%-6.6%-3.8%
Q1 2019+22.6%+24.2%-25.6%
Q4 2018+37.3%+26.0%+25.4%
Q3 2018-15.5%-15.5%-13.7%
Q2 2018-20.3%-20.0%-43.4%
Q1 2018+5.9%-7.6%-12.9%
Q4 2017-6.0%-9.0%+30.1%
Q3 2017-2.0%+13.5%+221.6%
Q2 2017-1.3%-3.2%+5.3%
Q1 2017-3.3%+0.3%+8.6%
Q4 2016-2.0%-3.5%-7.6%
Q3 2016+0.4%+5.6%+46.4%
Q2 2016+4.1%+1.3%+24.7%
Q1 2016-3.2%
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010
Q3 2010
Q2 2010
Q1 2010

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