Riot Platforms demonstrated strong strategic positioning in expanding their data center business, maintaining robust financials, and improving hash rate efficiency. However, the company faced challenges with decreased Bitcoin production and increased direct mining costs, impacting revenue negatively.

Company Guidance -

Q3 2025

During Riot Platforms' second quarter 2025 earnings call, the company provided guidance on several key metrics and strategic initiatives. Riot increased its self-mining hash rate from 33.7 EH/s to 35.4 EH/s, a 5% increase, and produced 1,426 Bitcoin. Total quarterly revenue was $153 million, with a gross profit of $70.3 million and a gross margin of 46%. The company reported a net income of $219.5 million, bolstered by a $470.8 million mark-to-market gain due to Bitcoin price appreciation. Riot ended the quarter with over 19,000 Bitcoin and $330 million in cash, representing $2.4 billion in liquidity. Non-GAAP adjusted EBITDA was $495.3 million. The company is advancing its data center capabilities with the hiring of Jonathan Gibbs as Chief Data Center Officer and is developing a 600-megawatt substation at Corsicana, targeting a 40 EH/s hash rate by the end of 2025. Riot is focusing on maximizing the value of its megawatts, transitioning power capacity towards data centers, and strategically expanding its power assets.

Data Center Expansion and Leadership

Riot Platforms announced the hiring of Jonathan Gibbs as Chief Data Center Officer, signaling a significant step in expanding their data center capabilities. The company has acquired additional land around its Corsicana site, increasing its footprint to 858 acres to fully utilize power access.

Strong Financial Position

Riot maintains a strong balance sheet with over 19,000 Bitcoin and $330 million in cash, representing $2.4 billion in liquidity. The company has also secured a $200 million Bitcoin collateralized financing facility with Coinbase.

Increased Hash Rate Efficiency

Riot increased its self-mining hash rate by 5% to 35.4 EH/s. The company's hash rate utilization improved from 61% to 87% year-over-year, demonstrating strategic focus on operational efficiency.

Record Order Backlog for Engineering Business

The engineering business achieved a record in order bookings, bringing the backlog to $118.7 million, setting the stage for a strong second half of 2025.

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.