Bitcoin miner Riot posts net income of $104.5 million in Q3, reversing previous quarter’s losses
Bitcoin miner Riot Platforms achieved a $104.5 million net income in Q3 on record revenue, reversing earlier losses.Summary
Riot Platforms reported record revenue of $180.2 million and a net income of $104.5 million for the third quarter ending September 30, successfully reversing the net loss reported in the first half of 2025. This strong performance was largely driven by a significant increase in bitcoin mining revenue, as the firm mined 1,406 BTC, up from 1,104 year-over-year. Despite facing increased costs due to a 52% quarter-over-quarter rise in the global hash rate, which pushed the average cost to mine a bitcoin to $46,324, Riot's results were bolstered by power credits and gains on its bitcoin holdings. CEO Jason Les highlighted progress in expanding the data center business, including the 112 MW Corsicana campus, as part of a strategy to become a multi-faceted data center operator. Riot maintains a substantial treasury of nearly 20,000 BTC, valued over $2 billion.
(Source：The Block)