Riot Platforms Reports BTC Production of 463 in April Amid Strategic Shift

Riot Platforms (NASDAQ: RIOT) produced 463 Bitcoin in April 2025, a decrease of 13% from March yet a 23% increase year-over-year, according to their recent unaudited monthly production report. The company sold 475 Bitcoin for $38.8 million at an average price of $81,731, indicating a shift in their funding strategy. CEO Jason Les noted, "Riot mined 463 bitcoin in April as the network experienced two successive difficulty adjustments during the month." The company made a significant acquisition in April, obtaining all tangible assets from Rhodium at its Rockdale Facility, which includes 125 MW of power capacity. Les commented on the significance of this acquisition, stating, "April was a significant month for Riot as we closed on the acquisition of all tangible assets... and mutually ended all outstanding litigation." This transaction concludes Riot’s involvement in the bitcoin mining hosting business. Average daily bitcoin production dropped to 15.4 BTC/day from 17.2 BTC/day in March due to increased network difficulty. Riot's deployed hash rate remained steady at 33.7 EH/s, although its average operating hash rate fell 3% to 29.3 EH/s. Still, the company maintained a strong fleet efficiency of 21.0 J/TH, a 22% improvement year-over-year. Riot's power credits totaled $2.0 million in April, up 131% from March, thanks to enhanced demand response and curtailment participation. Les explained, "During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations, limiting the amount of dilution in our stock." By the end of April, Riot held 19,211 Bitcoin, with a steady month-end count from March and more than double compared to April 2024. The company is actively seeking new talent and will participate in major industry events, including the Bitcoin 2025 conference in Las Vegas. With a vertically integrated model and recent operational consolidation, Riot positions itself as a leader in U.S.-based Bitcoin mining.