- Riot Platforms mined 470 Bitcoin in February 2025, up 12% year-on-year despite an 11% decline from January.
- Riot continues to strengthen its Bitcoin holdings and operational strategies, balancing efficiency gains with market challenges.
Riot Platforms has once again made headlines in the crypto world after reporting that it mined 470 Bitcoin worth $39.6 million in February 2025. Riot's mining volume is still up 12% from the same month last year, despite an 11% decline from January.
However, this production figure is not the only one. Riot has also made significant steps to strengthen its position, increasing its Bitcoin reserves and developing an ambitious financial plan.
Riot shares production and operations updates for February 2025.
“Riot mined 470 Bitcoin in February, with total production impacted by scheduled maintenance, a sharp reduction in production due to high electricity prices caused by cold weather, and a shortened month,” @JasonLes_ noted,…
— Riot Platforms, Inc. (@RiotPlatforms) March 4, 2025
Riot: Building Up Reserves Amid Growing Competition
According to CNF , the company purchased 5,117 bitcoins worth $510 million in December 2024. The move highlights their commitment to increasing their bitcoin holdings as part of their long-term strategy. Riot also plans to issue $500 million in convertible bonds maturing in 2030.
The move is aimed at strengthening the company's reserves and improving its position in a growing competitive segment, rather than being a mere fundraising plan.
However, Riot has some pretty tough hurdles to overcome. One of the main things limiting their energy consumption is severe weather, which causes their energy bills to skyrocket. In addition, a shorter-than-usual February has added to the monthly productivity decline. However, continued improvements in operational efficiency have helped mitigate the impact of these external factors.
Strategic move with new board members
Riot has significantly revamped its leadership and focused on operational and financial aspects. Jamie Leverton, Doug Mouton, and Michael Turner are the three new board members appointed on February 13, 2025. Two major investors, Starboard Value and DE Shaw, weighed in before the decision was made.
These three figures are not just average specialists. Their experience in managing the conversion of bitcoin mining assets to broader uses, including in the fields of artificial intelligence (AI) and high-performance computing (HPC) is well known.
The move suggests Riot may be preparing for significant changes, adopting new technologies to streamline its business beyond cryptocurrency mining.
Work efficiency and plans for the future
Riot’s Bitcoin mining output was slightly lower than the previous month, but the company still managed to keep its operating costs reasonable. Its electricity bill in February was 3.6 cents per kilowatt hour (kWh). While that’s up 7% from January, it’s still 8% lower than last year. Riot also received $2.8 million in electricity credits, which helped keep costs down.
The company also noted a sharp increase in its mining capabilities. Riot’s total hashrate at the end of February was 33.6 exahashes per second (EH/s), up 171% year-on-year. In a sign of its commitment to further growth in the sector, the average operational hashrate also increased by 246%.
Riot appears to be taking AI and high-performance computing seriously for the future. CEO Jason Les has stated that their Corsicana, Texas facility will have up to 1 gigawatt of power by 2026, setting up great prospects for future growth.
With the Tier 1 data center market in Dallas within reach, Riot can focus on more than just Bitcoin mining and look at other high-end computing opportunities.
Source: cryptonews.net
