Riot Platforms reports a record revenue of $647.4 million in 2025, a significant increase from $376.7 million in 2024, driven by rising Bitcoin prices and a strategy to expand into artificial intelligence (AI) and high-performance computing (HPC) infrastructure.
Over the past year, Riot mined 5,686 BTC, bringing total holdings to over 18,000 BTC. Revenue from Bitcoin mining operations reached $576.3 million, despite the average cost to mine each BTC rising to $49,645, up from $32,216 the previous year.
CEO Jason Les stated that the company is leveraging nearly 2 gigawatts of power capacity to develop data centers for large-scale computing needs. Riot also signed a lease agreement for AI and HPC infrastructure with AMD, marking the initial phase of revenue generation from this segment starting in January 2026.
Investor Starboard Value estimates that the AI strategy could increase Riot’s valuation to $21 billion in the future.
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