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CASTLE ROCK, Colo. - Riot Platforms, Inc. (NASDAQ: RIOT), a key player in the Bitcoin mining sector with a market capitalization of $2.56 billion, has reported a record production of 533 Bitcoin for March 2025, marking a significant increase from previous months and years. This latest figure represents a 13% rise from February 2025 and a 25% increase from March 2024. According to InvestingPro data, the company’s strong operational performance comes amid projected revenue growth of 84% for the current year.
The company’s average daily Bitcoin production also saw an uptick, climbing from 16.8 in February to 17.2 in March, which is a 25% year-over-year improvement. As of the end of March, Riot held a total of 19,223 Bitcoin, showing a 3% month-over-month growth and a substantial 126% rise from the same period last year. InvestingPro analysis reveals that Riot maintains a healthy financial position with a current ratio of 3.74, indicating strong liquidity. The stock currently appears undervalued according to InvestingPro’s Fair Value model, with 12+ additional exclusive insights available to subscribers.
In terms of operational capacity, Riot’s deployed hash rate exhibited a minor increase from 33.6 EH/s in February to 33.7 EH/s in March, while the average operating hash rate for the month was 30.3 EH/s, up from 29.4 EH/s in the previous month. This reflects a staggering 254% year-over-year growth.
Despite these production gains, the company reported a significant reduction in power credits, from $2.1 million in February to just $0.2 million in March, a 92% decrease. The total power credits for March amounted to $0.9 million, down 69% from February’s $2.8 million and 26% lower compared to last year’s $1.2 million.
Riot’s all-in power cost for March was 3.8c/kWh, which is a 5% increase from February but a 7% decrease year-over-year. The company’s fleet efficiency remained stable at 21.0 J/TH, indicating a 22% improvement from March 2024.
In addition to its mining operations, Riot has been exploring the potential of its Corsicana Facility for AI/High-Performance Computing (HPC) uses. A feasibility study conducted by Altman Solon in March highlighted the site’s viability, citing secure power of 1.0 GW, proximity to Dallas, and developable land as key factors. With a beta of 4.36, investors should note the stock’s higher volatility compared to the market. For detailed analysis and comprehensive insights, including the company’s extensive Pro Research Report covering 1,400+ top stocks, visit InvestingPro.
Riot’s ongoing recruitment drive aims to fill various positions within the company, further supporting its infrastructure development and Bitcoin network operations.
The information in this article is based on a press release statement from Riot Platforms, Inc.
In other recent news, Riot Platforms reported a significant 105% year-over-year increase in Bitcoin mining revenue for the fourth quarter of 2024, reaching $123 million, driven by a higher average Bitcoin price. The company also mined 470 Bitcoin in February 2025, marking a 12% year-over-year increase despite a decrease from the previous month. Riot Platforms announced a settlement in a legal dispute, which allows them to terminate a costly $15 million annual contract, potentially saving $90 million over six years. This settlement also frees up 125 megawatts of power for enhanced Bitcoin mining or AI/HPC development at their Rockdale facility.
Cantor Fitzgerald maintained an Overweight rating on Riot Platforms but adjusted the price target to $21, reflecting the company’s strong revenue growth and future hash rate projections. Meanwhile, Needham reduced its price target to $13.50, maintaining a Buy rating, and highlighted Riot’s strategic shift towards AI/HPC applications at its Corsicana facility. H.C. Wainwright reaffirmed its Buy rating and $17 target, emphasizing Riot’s increased hash rate and plans for AI/HPC expansion.
Riot Platforms is actively exploring opportunities in high-performance computing and artificial intelligence, with plans to utilize its Corsicana facility’s 600 megawatts of power capacity. The company is also focused on expanding its Bitcoin mining operations, with a goal to achieve a 38 exahashes per second hash rate by the end of 2025. These developments reflect Riot Platforms’ strategic efforts to adapt to the evolving technological landscape and optimize its operational capacities.
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