Riot Platforms Achieves Record Bitcoin Output Amid AI Expansion Efforts

Riot Platforms, a prominent player in the Bitcoin mining industry, reported a significant milestone in March 2025 by producing 533 Bitcoins, marking a 25% increase compared to the same period last year. This achievement underscores the company's enhanced operational efficiency and strategic growth in the cryptocurrency sector.

The company's average daily Bitcoin production rose to 17.2 in March from 16.8 in February, reflecting a consistent upward trajectory. As of the end of March, Riot's Bitcoin holdings totaled 19,223, representing a 3% increase from the previous month and a substantial 126% surge year-over-year. The deployed hash rate also saw a slight uptick to 33.7 exahashes per second in March, up from 33.6 EH/s in February, indicating robust computational capacity.

In tandem with its mining accomplishments, Riot Platforms is actively exploring opportunities in the artificial intelligence and high-performance computing arenas. A feasibility study conducted by Altman Solon, a leading data center industry consultant, evaluated the potential of utilizing the remaining 600 megawatts of power capacity at Riot's Corsicana Facility for AI and HPC applications. The study identified several advantageous attributes of the site, including 1.0 gigawatt of secured power, proximity to Dallas, Texas—a Tier-1 cloud and AI market—ample developable land, and existing infrastructure such as fiber and water access.

Jason Les, CEO of Riot Platforms, expressed optimism regarding the findings, stating that the Corsicana site presents an attractive opportunity for potential AI and HPC tenants aiming to expedite their market entry. The study highlighted the facility's capability to support both inference AI and cloud-type workloads, enhancing its appeal in the burgeoning AI and HPC sectors.

The strategic interest in AI and HPC is further evidenced by recent developments within the company's board. In February 2025, Riot appointed three new directors—Jaime Leverton, Doug Mouton, and Michael Turner—who bring experience in transitioning Bitcoin mining assets for AI and HPC uses. This move followed input from investors such as Starboard Value and D.E. Shaw, who have advocated for diversifying the company's operations to include AI applications.

Financially, Riot Platforms maintains a strong position, with a current ratio of 3.74, indicating solid liquidity. The company's all-in power cost for March was 3.8 cents per kilowatt-hour , a 5% increase from February but a 7% decrease compared to the previous year. Fleet efficiency remained stable at 21.0 joules per terahash , reflecting a 22% improvement from March 2024.