Riot Platforms Reaches Max Bitcoin Mining After Halving, Expanding Its AI Capabilities
James Van Straten, AI Boost | Edited by Sheldon Reback Updated April 4, 2025, 8:39 PM Published April 4, 2025, 2:22 AM
Riot Platforms (RIOT) reported strong operating results in March 2025, driven by continued expansion in artificial intelligence (AI) and high-performance computing (HPC).
The company mined 533 BTC of bitcoin (BTC) last month, the highest since the last halving nearly a year ago. This represents a 13% increase from the previous month and a 25% increase from the same period last year. Bitcoin reserves have grown to 19,223 BTC.
Riot announced plans to “aggressively” develop its Corsicana facility to tap into growing demand for AI and HPC computing infrastructure.
A recent feasibility study by industry consultant Altman Solon confirmed the site’s significant potential to support up to 600 megawatts of additional capacity for AI/HPC applications. Key benefits include 1.0 GW of secured capacity, of which 400 MW is already operational, 265 acres of land with significant potential for development, and proximity to Dallas, a major AI and cloud computing hub.
The study noted the platform’s ability to support both logical and cloud workloads, making it more attractive to AI/HPC users.
Riot maintained a stable deployed hash rate of 33.7 EH/s, while its average operational hash rate increased 3% month-over-month to 30.3 EH/s, up 254% year-over-year. Despite a decline in electricity credits due to seasonal factors, Riot kept its overall electricity cost low at 3.8 cents per kWh and increased its fleet efficiency to 21.0 J/TH, up 22% year-over-year.
Riot shares fell 5.5% on Friday, while the Nasdaq 100 index fell 2.8%. They have lost 35% since the start of the year.
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