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Riot Posts Record Q3 Revenue and Profit as Shares Slip Nearly 5%

Investors reacted to rising mining costs alongside a pricey pivot to a 112 MW Corsicana data‑center build.

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Riot Platforms Q3 Earnings - $104.5M Net Income
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Overview

  • Riot reported Q3 revenue of $180.2 million and net income of $104.5 million for the quarter ended Sept. 30.
  • Adjusted EBITDA reached $197.2 million, boosted by a $133.1 million unrealized gain tied to a nearly 20,000 BTC treasury worth over $2 billion.
  • Bitcoin production rose to 1,406 BTC from 1,104 a year earlier even as sector competition intensified.
  • The average cost to mine one bitcoin increased to $46,324 from $35,376, with the company citing a 52% quarter‑over‑quarter jump in global hash rate.
  • Shares fell 4.87% on the earnings day as the company advances its AI and high‑performance computing strategy, including core‑and‑shell work at the Corsicana campus.