Riot Platforms (NASDAQ:RIOT) reported Q2 2025 earnings, with $153 million revenue and $219.5 million net income, attributed to a mark-to-market gain from Bitcoin appreciation. Riot is shifting focus to data centers, hiring Chief Data Center Officer Jonathan Gibbs and acquiring land for up to 1 gigawatt capacity near Dallas and Austin.

Operational gains at Riot include a 5% increase in self-mining hash rate, producing 1,406 bitcoins in Q2, and a 50% gross margin. The company aims to maintain a 4% global network share through 2026, with guidance for 40 exahash in Q4 2025 and 45 exahash in Q1 2026.

Riot’s Bitcoin-driven liquidity of $2.4 billion supports data center expansion without dilutive equity raises. A $200 million Bitcoin-collateralized loan with Coinbase reduces reliance on equity issuance, aligning funding with shareholder value accretion. The company aims to complete the basis of design for its Corsicana data center by Q3 2025.

Read more at Nasdaq: Riot Platforms Swings to Q2 Profit