Highlights

  • Riot Platform’s total revenue and reserve income increased to USD 180.2 million in Q3FY25, up from USD 84.8 million a year earlier
  • The company reported a net profit of USD 104.5 million in Q3, compared with a net loss in the prior-year quarter
  • Cash and cash equivalents stood at USD 330.7 million for Q3, alongside holdings of19,287 Bitcoin, supporting data centre development plans.
  • Average Bitcoin mining cost rose year over year due to higher network difficulty, while operating cash outflows widened on power and working capital needs.

Riot Platforms, Inc. (NASDAQ:RIOT) operates as a Bitcoin mining and digital infrastructure company. It runs Bitcoin mining facilities in central Texas and Kentucky, alongside electrical engineering and fabrication operations based in Denver, Colorado, and Houston, Texas.

Riot reported adjusted EBITDA of USD 197.2 million in the third quarter of fiscal year 2025 (Q3FY25), citing cash‑generating capacity amid higher global network hash rates. The company reported cash and cash equivalents of USD 330.7 million and 19,287 Bitcoin, noting that these resources support financial flexibility for data center development. On the negative side, operating cash outflow widened to USD 467.4 million year‑to‑date from USD 156.7 million, which the company linked to higher working capital needs and power-related expenditures. Riot also reported that the average cost to mine Bitcoin rose to USD 46,324 per Bitcoin year‑over‑year, attributing the increase to higher network difficulty.

Q3 Sees Revenue Growth and Return to Net Profit

For Q3FY25, total revenue and reserve income were reported at USD 180.2 million, compared with USD 84.8 million in Q3FY24, with the change driven mainly by higher Bitcoin mining revenue supported by higher average prices and an expanded operational scale year‑over‑year.

Net profit for the quarter was USD 104.5 million, compared with a net loss of USD 154.4 million in the prior‑year period, with the turnaround associated with stronger mining economics, operational efficiencies, and gains on Bitcoin held on the balance sheet.

Recent Business Update

The company announced the appointment of Jason Chung as Chief Financial Officer, effective March 1, 2026, succeeding Colin Yee, who will transition to a Senior Advisor role to support strategic continuity.

In a separate update, Riot reported unaudited production results for November 2025, with 428 Bitcoin produced and accompanying details on deployed hash rate and metrics such as power credits and fleet efficiency, indicating ongoing operational performance in mining.

Top 10 Shareholders

The company’s top 10 shareholders collectively account for about 37.91% of the total shareholding, indicating a relatively concentrated ownership structure. The Vanguard Group, Inc. and BlackRock Institutional Trust Company, N.A. are the largest shareholders, with holdings of approximately 9.66% and 6.04%, respectively.

Share Performance

RIOT closed at USD 15.27 on January 07, 2026. The stock declined 30.56% over three months but rose 24.75% over six months. Its 52-week range spans USD 6.19–USD 23.94.

 Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is January 07, 2026. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined: -

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 Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.