Riot Platforms is flipping the script. Q3 2025 results show Riot Platforms delivering $180.2M in revenue and producing 1,406 Bitcoin in the quarter [1][9]. That mining momentum funds a rapid pivot into large-scale data centers and AI compute, starting with the Corsicana project [4].
Q3 Snapshot Profitability and scale follow. Net income swings to $104.5M with Adjusted EBITDA of $197.2M [1]. Hash rate deployed climbs to 36.5 EH/s and power cost averages 3.2 cents/kWh; the all-in cost to mine 1 Bitcoin sits at about $89,074 [1].
Corsicana Pivot & Capex Corsicana data-center push: Core and shell development for two 112 MW buildings underway; forecast $214M capex over the next 18 months [4]. Riot also bought an adjacent 67-acre parcel to support full 1 GW capacity [8].
AI Demand & Engineering Backstop AI demand for power is accelerating, according to CEO Jason Les on the Q3 earnings call [5]. The in-house engineering capability, boosted by the ESS Metron integration and the E4A Solutions acquisition, underpins the build-out [1].
Closing thought: Riot’s mining cash flow is funding a bold data-center/AI compute push, but the real test will be tenant commitments and actual AI compute demand turning into steady revenue.
References: [1], [9], [4], [8], [5]
References
Riot Platforms, Inc. Quarterly Report Released - Here’s What You Should Know
Riot Platforms reports Q3 2025 gains in Bitcoin Mining; hash rate up; revenue growth; impairment; liquidity; risks from price volatility.
View source$RIOT earnings: Data Center Pivot Gains Traction, Mining Operations Fund the Build Riot delivered
Riot earnings show data center advancing; mining cash flow strong; hash rate guidance trimmed; tenant deals pending.
View source$RIOT @RiotPlatforms CEO @JasonLes_ says AI demand for power is accelerating on Q3 Earnings Call
Riot Platforms CEO says AI power demand accelerates; highlighted during Q3 earnings call by analysts in today’s update
View source$RIOT added during the call: Data Center Strategy & Development (Corsicana) Land Acquisition: The
Riot expands Corsicana site with 67 acres (total 925) targeting 1 GW; phased build, PUE ~1.49, Rockdale next development.
View source$RIOT Riot Platforms Reports Third Quarter 2025 Financial Results and Strategic Highlights Riot Pl
Riot Platforms reports Q3 2025 performance, with 1,406 Bitcoin produced, mining revenue $160.8M, EBITDA $197.2M, 19,287 Bitcoin held in total.
View source