Riot Platforms reports 470 Bitcoin mined in February 2025

CASTLE ROCK, Colo. - Riot Platforms, Inc. (NASDAQ: NASDAQ:RIOT), a prominent Bitcoin mining company with a market capitalization of $3.1 billion, disclosed its unaudited production and operations updates for February 2025, highlighting the mining of 470 Bitcoin, a 12% increase year-over-year despite a month-over-month decrease of 11%. According to InvestingPro data, the company has demonstrated strong revenue growth with a 34.2% increase over the last twelve months, though analysts anticipate some profitability challenges ahead.

The company, which operates mining facilities in Texas and Kentucky, maintained an average daily production of 16.8 Bitcoin in February, only slightly down from 17.0 in January. Riot held a total of 18,692 Bitcoin by the end of February, marking a 3% increase from January and a substantial 132% rise from the same period last year. With a current stock price of $8.86, Riot appears slightly undervalued according to InvestingPro Fair Value estimates, while maintaining a healthy current ratio of 3.74, indicating strong short-term liquidity.

Riot’s total deployed hash rate across its facilities stood at 33.6 exahashes per second (EH/s), reflecting a stable month-over-month performance and a significant 171% increase year-over-year. The average operating hash rate also saw a substantial annual increase of 246%, reaching 29.4 EH/s.

In terms of power costs, the company reported a total all-in power cost of 3.6 cents per kilowatt-hour, up by 7% from January but an 8% decrease from the previous year. This is in line with the company’s strategy to improve utilization and operational efficiencies across all its facilities. Riot has also been accumulating power credits, with $2.8 million earned in February, which although a 33% decrease from January, still represents a 196% increase year-over-year.

Riot’s CEO, Jason Les, noted that the February production was influenced by planned maintenance, elevated curtailment due to higher power prices from colder weather, and the shorter month. However, he emphasized ongoing improvements in operational efficiencies and the company’s focus on AI/HPC processes, with strong market demand observed. Despite recent operational challenges, analysts maintain a bullish outlook on Riot, with price targets ranging from $13.50 to $23.00 per share. For deeper insights into Riot’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 15 additional ProTips and detailed valuation metrics.

The company also announced its participation in the upcoming Cantor Fitzgerald Global Technology Conference in New York City on March 11th-12th and the 37th Annual Roth Conference in Dana Point, California, on March 17th-18th.

Riot Platforms, Inc. continues to expand its workforce, with various positions open across the company, as it aims to build, expand, and secure the Bitcoin network.

This report is based on a press release statement from Riot Platforms, Inc. and provides an overview of the company’s performance and strategic focus in the Bitcoin mining sector.

In other recent news, Riot Platforms has reported a significant 34% increase in total revenue for Q4 2024, reaching $376.7 million. The company also turned its net income positive, achieving $109.4 million, a notable turnaround from a net loss the previous year. Bitcoin mining revenue surged by 70% to $321 million, contributing to the company’s robust financial performance. Riot Platforms is also focusing on expanding its high-performance computing (HPC) and artificial intelligence (AI) capabilities, particularly at its Corsicana facility, which could host AI-focused data centers. Analyst firms have weighed in on these developments, with Cantor Fitzgerald adjusting its price target to $21, citing continued revenue growth expectations, while Needham reduced its target to $13.50, maintaining a Buy rating despite concerns over Bitcoin prices and high global hash rates. H.C. Wainwright reaffirmed its $17 price target, highlighting Riot’s strategic initiatives in HPC and AI. These recent developments underscore Riot Platforms’ efforts to capitalize on the growing demand for both Bitcoin mining and AI applications.

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