Riot Platforms reports record annual revenue of $647 million amid AI and HPC push

Riot Platforms said it registered a record year for revenue in 2025 as the Bitcoin miner leans heavily into becoming a major provider of artificial intelligence and high-performance computing infrastructure.

The company said it posted $647.4 million in revenue last year, up from $376.7 million in 2024. Riot also produced 5,686 bitcoin in 2025, up from 4,828 the previous year, as BTC's price soared during much of the fiscal period. The company now holds over 18,000 bitcoin.

“2025 marked a watershed year for Riot, defined by a strategic evolution in our business that has transformed our future trajectory,” Riot CEO Jason Les said in a statement. “By unlocking our large, nearly two-gigawatt power portfolio for high-demand data center infrastructure, we are driving significant shareholder value."

In January, Riot inked a data center deal with semiconductor firm AMD. Shortly after, activist investor Starboard Value said Riot Platforms’ new focus on AI and HPC could be worth as much as $21 billion while encouraging the bitcoin miner to pivot as rivals also aim to reposition themselves as AI data center operators.

“We have successfully commenced operations on the first phase of the lease with AMD, generating revenue for Riot, as of January 2026," Les also said. "This partnership validates our unique ability to rapidly deliver power capacity at scale for the world’s leading technology companies."

Riot said the average cost of mining bitcoin increased last year to $49,645, as compared with $32,216 per bitcoin in 2024. Still, with bitcoin's price soaring to an all-time high in 2025, Riot's BTC mining revenue climbed to $576.3 million last year, jumping from $321.0 million during the previous period.