The earnings call presented a mixed outlook for Riot Platforms. While the company showcased strategic advancements in its data center business, enhanced hash rate utilization, and a strong balance sheet, it also faced a decline in revenue and Bitcoin production. The strategic hiring and land acquisitions position the company well for future growth, yet operational challenges and decreased Bitcoin production highlight areas needing attention.

Company Guidance

During the second quarter of 2025, Riot Platforms provided guidance on its strategic focus and performance metrics. The company reported a total revenue of $153 million, a slight decrease from the previous quarter's $161.4 million, primarily due to a lower Bitcoin production amidst a growing global hash rate. Riot's gross profit stood at $70.3 million with a consistent margin of 46%. A notable highlight was the net income of $219.5 million, driven by the appreciation in Bitcoin price and marketable securities. Riot's Bitcoin mining revenue was $140.9 million, with a gross margin increase to 50%. The company increased its self-mining hash rate from 33.7 EH/s to 35.4 EH/s, despite a 9% rise in the global hash rate. Riot maintained a strong balance sheet, holding over 19,000 Bitcoin and $330 million in cash, representing $2.4 billion in liquidity. The call also emphasized Riot's strategic shift towards developing high-performance compute data centers, leveraging its 600-megawatt power capacity at Corsicana, with a longer-term goal of transitioning power capacity from Bitcoin mining to data centers based on market conditions.

Net Income Turnaround

Riot Platforms reported a net income of $219.5 million for the second quarter of 2025, compared to a net loss of $296.4 million in the previous quarter.

Data Center Development Progress

Riot Platforms hired Jonathan Gibbs as Chief Data Center Officer and expanded their data center business, marking a significant milestone in their strategic plan.

Strong Balance Sheet

Riot Platforms ended the second quarter with more than 19,000 Bitcoin and $330 million in cash, representing $2.4 billion in liquidity.

Increased Hash Rate Utilization

Year-over-year hash rate utilization increased from 61% to 87%, demonstrating operational efficiency improvements.

Strategic Land Acquisitions

Riot Platforms acquired additional land around their Corsicana site, expanding the total footprint to 858 acres to maximize power usage.

Riot Platforms (RIOT) Earnings, Revenues Date & History

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RIOT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	-0.14 / -	-0.54	―	―	―
Jul 31, 2025	2025 (Q2)	-0.17 / 0.57	-0.346	264.74% (+0.92)
May 01, 2025	2025 (Q1)	-0.34 / -0.90	0.82	-209.76% (-1.72)
Feb 24, 2025	2024 (Q4)	-0.18 / 0.38	0.453	-16.11% (-0.07)
Oct 30, 2024	2024 (Q3)	-0.18 / -0.54	-0.25	-116.00% (-0.29)
Jul 31, 2024	2024 (Q2)	-0.10 / -0.35	-0.17	-103.53% (-0.18)
May 01, 2024	2024 (Q1)	-0.20 / 0.82	-0.33	348.48% (+1.15)	―
Feb 22, 2024	2023 (Q4)	-0.28 / 0.45	-0.91	149.78% (+1.36)	―	―
Nov 07, 2023	2023 (Q3)	-0.27 / -0.25	-0.24	-4.17% (-0.01)	―	―
Aug 09, 2023	2023 (Q2)	-0.21 / -0.17	-0.5	66.00% (+0.33)		―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

RIOT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$13.41	$11.03	-17.75%
May 01, 2025	$7.77	$8.39	+7.98%
Feb 24, 2025	$9.99	$9.32	-6.71%
Oct 30, 2024	$10.48	$9.24	-11.83%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.