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CASTLE ROCK, Colo. - Riot Platforms, Inc. (NASDAQ: RIOT), a $3 billion market cap player in the volatile Bitcoin mining sector with a high beta of 4.6, has released its unaudited production and operations figures for April 2025, revealing that it mined 463 Bitcoin during the month. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculations, though investors should note its significant cash burn rate. This marks a 23% increase compared to April 2024 but shows a 13% decrease from the 533 Bitcoin mined in March 2025.
The company reported an average daily production of 15.4 Bitcoin in April, down from 17.2 in the previous month. Despite the month-over-month decrease, the year-over-year daily production saw a 23% rise.
Riot’s Bitcoin holdings remained relatively stable at 19,211, compared to 19,223 at the end of March 2025, and significantly higher than the 8,872 held in April 2024, indicating a 117% year-over-year increase.
April also saw Riot sell 475 Bitcoin, generating net proceeds of $38.8 million, with an average net price per Bitcoin sold at $81,731. The sales were part of a strategic decision to fund ongoing growth and operations, aiming to strengthen the company’s balance sheet and limit stock dilution. While the company maintains a healthy current ratio of 3.23, InvestingPro data reveals significant negative free cash flow, highlighting the importance of these strategic sales. Analysts project 67% revenue growth for fiscal year 2025, though profitability remains a challenge.
The deployed hash rate capacity remained constant at 33.7 exahashes per second (EH/s), a notable 168% increase from April 2024. The average operating hash rate for April was 29.3 EH/s, a slight decrease from 30.3 EH/s in March 2025 but a substantial 234% increase year-over-year.
Riot also reported power credits and demand response credits totaling $2.0 million, with an all-in power cost of 3.7 cents per kilowatt-hour, net of total power credits. The company’s mining fleet efficiency remained at 21.0 joules per terahash, reflecting a 22% improvement from the previous year.
The company highlighted the acquisition of tangible assets from Rhodium at its Rockdale Facility, including 125 MW of power capacity, and the termination of all outstanding litigation. This transaction marked Riot’s complete exit from the Bitcoin mining hosting business.
Riot is actively recruiting for various positions across the company as part of its expansion efforts.
This update is based on a press release statement from Riot Platforms, Inc. and reflects the company’s performance and strategic decisions in the context of its Bitcoin mining operations. For a comprehensive analysis of Riot’s financial health, operational metrics, and future prospects, including 12 additional ProTips and detailed valuation models, explore the full company research report available on InvestingPro.
In other recent news, Riot Platforms reported its Q1 2025 earnings, revealing a revenue of $161.4 million, which exceeded the forecasted $157.9 million. Despite the revenue beat, the company experienced a significant net loss of $296.4 million. Gross profit improved to $73.6 million from the previous quarter’s $55.7 million, indicating enhanced operational efficiency. The company also announced a strategic move into AI data centers, highlighting a shift towards emerging technology trends. Riot Platforms acquired assets from Rhodium, including mining operations and power capacity, as part of a settlement agreement that ended all litigation between the two parties. Analyst firms such as B. Riley Securities and Piper Sandler have shown interest in Riot’s new initiatives, indicating a robust demand for AI data center capacity. Additionally, Riot Platforms has secured a $100 million credit facility with Coinbase, providing more financing flexibility. These developments underscore Riot’s strategic focus on expanding its capabilities in the AI and data services market.
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