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Riot Platforms Shares Jump Pre-Market After Posting Unexpected Profit on Record Revenue
Strong bitcoin mining performance and data center expansion drive momentum.
Updated Oct 31, 2025, 9:51 a.m. Published Oct 31, 2025, 9:02 a.m.
What to know:
- Reported net income of $104.5 million, beating estimates and reversing a year-ago loss, on record quarterly revenue of $180.2 million.
- Adjusted Ebitda rose to $197.2 million boosted by bitcoin gains.
- Announced 112 MW development at its Corsicana, Texas data center campus, underscoring progress toward becoming a large-scale, diversified data center and bitcoin mining operator.
Riot Platforms (RIOT) shares rose 5% pre-market after the bitcoin mining company unexpectedly posted a third-quarter profit on record revenue.
Net income was $104.5 million, or 26 cents per diluted share, compared with a loss of $154.4 million, or 54 cents, the year before. The company had been expected to post a 12 cent-a-share loss, according to Zacks Equity Research.
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Revenue more than doubled to $180.2 million from the year-earlier quarter, driven mainly by a $93 million increase in bitcoin mining revenue, the company said. Riot mined 1,406 bitcoin during the quarter at an average cost of $46,324 per coin.
The revenue gain at Riot, one of the first mining companies to report, was fueled mainly by a bitcoin price that rose 6.4% in the quarter and greater operational capacity. The company recorded a $133 million mark-to-market gain on its bitcoin holdings, currently 19,287 BTC valued at roughly $2.2 billion as of Sept. 30.
The Castle Rock, Colorado company, which develops and operates large-scale data centers, also announced the initiation of 112 megawatts of core and shell development at its Corsicana, Texas data center campus, following land acquisition and design completion milestones.
CEO Jason Les said these developments mark a pivotal step toward transforming Riot into a large-scale, multifaceted data center operator leveraging its land and power assets.
Riot held 19,287 bitcoin — 3,300 are held as collateral — valued at roughly $2.2 billion as of Sept. 30.
UPDATE (Oct. 31, 09:50 UTC): Adds revenue drivers, mark-to-market in fourth paragraph.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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