Riot Platforms reports increased Bitcoin production in January

CASTLE ROCK, Colo. - Riot Platforms, Inc. (NASDAQ: NASDAQ:RIOT), a prominent player in the Bitcoin mining sector with a market capitalization of nearly $4 billion, released its unaudited production and operational figures for January 2025, showcasing a slight increase in Bitcoin production and operational efficiency. The company mined 527 Bitcoin in January, a 2% increase from December 2024 and a 1% increase year-over-year. According to InvestingPro data, RIOT has demonstrated strong momentum with a 9.5% return in the past week alone.

The deployed hash rate across Riot’s facilities also saw growth. The Corsicana Facility, which recently completed commissioning, achieved a deployed hash rate of 15.7 EH/s by the end of January, contributing to the company’s total deployed hash rate of 33.5 EH/s, up 6% from December 2024 and a substantial 171% increase from January 2024.

Additionally, Riot’s average operating hash rate for January was 29.3 EH/s, marking a 7% increase from the previous month and a significant 238% rise compared to the same period last year. The company attributes these improvements to the successful deployment of new miners and immersion systems.

Despite these advancements, Riot has adjusted its growth projections for 2025. The company previously anticipated ending the year with a total hash rate capacity of 46.7 EH/s. However, due to the halting of a 600 MW Phase II Bitcoin mining expansion at the Corsicana Facility, the expected year-end hash rate capacity is now revised to 38.4 EH/s.

Riot’s Bitcoin holdings increased to 18,221, up from 17,722 at the end of December and significantly higher than the 7,648 held in January 2024. This increase is partly due to the acquisition of 5,784 Bitcoin in December 2024. The company did not sell any Bitcoin in January 2025. InvestingPro analysis shows that Riot maintains a healthy balance sheet with a current ratio of 5.68, indicating strong liquidity to support its operations. The company’s stock currently trades near its InvestingPro Fair Value, with analysts setting price targets ranging from $13 to $25.

In terms of power efficiency, Riot reported a decrease in all-in power costs at its Kentucky and Rockdale sites and an overall reduction in fleet efficiency from 21.9 J/TH to 21.1 J/TH.

Riot’s focus on innovation and community partnership remains central to its vision as a leading Bitcoin-driven infrastructure platform. The company’s evaluation of AI/HPC opportunities at the Corsicana Facility is ongoing, with consultancy firm Altman Solon conducting a feasibility assessment.

This news comes ahead of Riot’s participation in Bernstein’s 3rd Annual TMT Forum later this month. The company continues to recruit for various positions across its operations. For investors seeking deeper insights, InvestingPro offers 17 additional investment tips and comprehensive analysis of Riot’s financial health, which currently rates as "FAIR" based on multiple factors including growth, profitability, and momentum metrics.

The information in this article is based on a press release statement from Riot Platforms, Inc.

In other recent news, Riot Platforms has seen significant developments, with investment firm D.E. Shaw acquiring an undisclosed stake in the cryptocurrency mining company. This follows a similar move by Starboard Value last year, which also purchased an undisclosed stake and has been advocating for Riot Platforms to explore artificial intelligence applications. Additionally, Riot Platforms has begun evaluating the potential for artificial intelligence and high-performance computing at its Corsicana, Texas facility.

In response to these developments, Piper Sandler has maintained an Overweight rating on Riot Platforms stock, noting the company’s exploration of artificial intelligence and high-performance computing. Similarly, Needham has reaffirmed a Buy rating and increased the stock’s price target, citing Riot’s strategic shift towards high-performance computing. JPMorgan also maintained an Overweight rating, highlighting Riot’s decision to explore the potential use of its Corsicana facility for artificial intelligence and high-performance computing.

These recent developments underscore the evolving landscape of Riot Platforms and its strategic direction. The company’s focus on exploring new technology applications and attracting investment from notable firms signals a dynamic period for Riot Platforms.

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