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CASTLE ROCK, Colo. - Bitcoin mining company Riot Platforms, Inc. (NASDAQ:RIOT), currently trading at $13.41 with a market cap of $4.8 billion, reported a net income of $219.5 million and adjusted EBITDA of $495.3 million for the second quarter ended June 30, 2025, according to a press release issued Thursday. According to InvestingPro analysis, the stock has shown strong momentum with a 31% return year-to-date, though it remains slightly undervalued based on Fair Value estimates.
The company’s total revenue reached $153.0 million, up from $70.0 million in the same period last year, primarily driven by an $85.1 million increase in Bitcoin mining revenue. This continues the company’s impressive revenue growth trajectory, with InvestingPro data showing a 60% revenue growth over the last twelve months. However, analysts anticipate challenges ahead, with net income expected to decline this year - one of 15+ insights available with InvestingPro’s comprehensive analysis.
Riot produced 1,426 bitcoin during the quarter, compared to 844 in the second quarter of 2024. The average cost to mine one bitcoin, excluding depreciation, was $48,992, up from $25,329 in the same period last year. The company attributed this increase to the bitcoin halving event in April 2024 and a 45% rise in the average global network hash rate.
Bitcoin mining revenue totaled $140.9 million for the quarter, compared to $55.8 million in the same period of 2024. The company’s engineering revenue was $10.6 million, slightly up from $9.6 million a year earlier.
As of June 30, Riot held 19,273 bitcoin (with 3,300 held as collateral), valued at approximately $2.1 billion based on the market price of $107,174 per bitcoin. The company maintained $141.1 million in working capital, including $255.4 million in unrestricted cash, $74.9 million in restricted cash, and $62.5 million in marketable equity securities. InvestingPro metrics indicate the company operates with a moderate debt level, with a debt-to-equity ratio of 0.21, while maintaining a healthy current ratio of 3.23.
"Strong tailwinds in the price of bitcoin contributed to Riot achieving a record $219.5 million in net income and $495.3 million in adjusted EBITDA, representing exceptionally strong results for the quarter," said Jason Les, CEO of Riot, in the press release statement.
The company operates bitcoin mining facilities in Texas and Kentucky, along with electrical engineering and fabrication operations in Colorado and Texas. With a beta of 4.58, investors should note the stock’s high volatility compared to the broader market. For detailed analysis of RIOT and 1,400+ other stocks, including comprehensive Pro Research Reports, visit InvestingPro.
In other recent news, Riot Platforms announced its Q2 2025 earnings, reporting a net income of $219.5 million, or $0.65 per share. This result significantly exceeded the analysts’ expected earnings per share (EPS) forecast of -$0.2065. The company’s total revenue was $153 million, slightly above the anticipated $150.87 million. These earnings results are recent developments that have captured the attention of investors. The financial performance highlights Riot Platforms’ ability to surpass market expectations. While the stock price movement post-earnings is not the focus, the company’s performance has been notable. Analysts and investors are closely monitoring Riot Platforms for its financial outcomes.
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