From Cointelegraph

May 2, 2025 01:29 AM:

Bitcoin miner Riot Platforms reported its highest-ever quarterly revenue of $161.4 million but still posted a loss due to mining costs doubling. The firm blamed the “halving event” for expenses, with a net loss of $296,367 over Q1, a 240% decrease from the year-ago quarter. Shares closed up 7.32% on May 1.

Riot Platforms produced 166 more Bitcoin during the quarter than in 2024, equating to approximately $16.13 million with Bitcoin trading at $97,072. The company holds 19,223 unencumbered Bitcoin worth about $1.86 billion. Riot secured a $100 million credit facility from Coinbase using its Bitcoin stockpile as collateral for expansion.

Read more at Cointelegraph: Riot Platforms posts Q1 loss, beats revenue estimates