Bitcoin News Today: Riot Platforms Q2 Revenue Surpasses Estimates as Bitcoin Mining Output Rises 68.9%

Riot Platforms Inc. (NASDAQ: RIOT), a major player in Bitcoin mining and data center development, reported second-quarter revenue of $152.99 million, surpassing analyst expectations of $147.65 million [10]. The firm also generated 1,426 Bitcoin during the quarter, a significant increase from 844 in the same period the previous year. The average cost to mine Bitcoin for Riot was $48,992 during the reporting period. The company ended the quarter with 19,273 Bitcoin in its holdings and $255.4 million in unrestricted cash [1].

Despite the strong revenue and record net income of $219.5 million and adjusted EBITDA of $495.3 million, Riot’s shares fell 5.15% in after-hours trading to $12.72 [1]. This decline coincided with a broader downturn in the cryptocurrency market, as Bitcoin failed to maintain its price above $119,000 [2]. The CEO, Jason Les, attributed the strong financial performance to favorable Bitcoin price movements and the company’s operational capabilities in power procurement and infrastructure engineering.

The mixed market reaction highlights the challenges faced by Bitcoin miners, including rising operational costs and an increased global network hashrate compared to the previous year [1]. These factors can dilute profitability by increasing competition and energy expenses. The crypto market remains sensitive to broader macroeconomic conditions and regulatory developments. In July, the White House was reported to be preparing a crypto policy report, which could influence investor sentiment and industry regulations [5].

Other Bitcoin mining firms have also reported mixed results. Bitfarms Ltd. posted a 500% year-on-year increase in net losses during Q1 2025, with adjusted EBITDA declining by 35% [4]. In contrast, Bitdeer Technologies reported a 21% rise in self-mining hashrate and plans to expand to 40 EH/s, signaling potential growth in operational capacity despite financial challenges [6].

The earnings report from Riot Platforms reflects the delicate balance that mining companies must maintain between high revenue and rising costs in a volatile market. As the sector continues to navigate regulatory and economic uncertainties, the ability to scale operations and manage costs will likely determine long-term success. The broader implications for the Bitcoin mining industry will depend on how effectively companies can adapt to these headwinds and whether policy clarity can bring greater stability to investor confidence.

Sources:

[1] title1: Riot Platforms Q2 revenue falls short of consensus as ... (https://seekingalpha.com/news/4476007-riot-platforms-q2-revenue-falls-short-of-consensus-as-bitcoin-mining-costs-rise)

[2] title2: News (https://www.benzinga.com/news)

[4] title4: Bitfarms Ltd.: Optimistic With The Buyback Plan And US ... (https://seekingalpha.com/article/4806658-bitfarms-ltd-optimistic-with-the-buyback-plan-and-us-exposure-into-2026)

[5] title5: White House to unveil crypto policy report, Reuters reports (https://www.tipranks.com/news/the-fly/white-house-to-unveil-crypto-policy-report-reuters-reports-thefly)

[6] title6: Bitdeer Technologies (BTDR) Stock Price, Quote, News & ... (https://www.tipranks.com/stocks/btdr)

[10] title10: Modern Finance Online (https://www.modernfinanceonline.com/)