- Riot Platforms is shifting its focus from solely Bitcoin mining to maximizing the value of its available power capacity.
- In Q3 2025, Riot reported record revenue of $180.2 million, more than doubling year-over-year.
- The company mined 1,406 Bitcoin in Q3, a 27% increase compared to the previous year.
- Riot plans to develop a large data center campus in Corsicana, Texas, that will use up to 1 gigawatt of power.
- The firm intends to use cash flows from Bitcoin mining to support its expansion into data centers, especially for AI infrastructure.
Riot Platforms announced that it is expanding its strategy beyond Bitcoin mining to focus on generating value from its power capacity. This shift was revealed after the company reported its third-quarter 2025 financial results. The firm’s operations are based in Texas, where it is developing a major data center campus.
In Q3, Riot posted revenue of $180.2 million, a 112.5% increase from the same quarter last year. Net income reached $104.5 million, a significant turnaround from a $154.4 million loss in Q3 2024. The company mined 1,406 Bitcoin during the quarter, up 27% year-over-year, bringing the total Bitcoin held to 19,287 coins valued at over $2.1 billion.
Josh Kane, vice president of investor relations, stated, “We no longer see Bitcoin mining operations as the end goal, but instead as a means to an end, and that end is maximizing the value of our megawatts.” This refers to the electrical power (measured in megawatts) used in Bitcoin mining, which the company now plans to use more broadly.
The company is initiating construction on its Corsicana Data campus in Texas. The first two buildings will provide 112 megawatts of data center capacity for critical IT infrastructure. CEO Jason Les explained, “Eventually, we aim to have the entire site be a one-gigawatt utility-load data center campus.” This means the campus will be able to use up to 1,000 megawatts of power for data center operations.
Although 90% of the firm’s Q3 revenue still came from Bitcoin mining, Riot intends to use the income generated to develop high-performance data centers. These data centers are positioned to support technologies like Artificial Intelligence by offering ready supply of power and space. The company paused further Bitcoin mining buildout at Corsicana earlier this year to focus on these new data center projects.
Further details and the official financial report can be found on Riot Platforms’ website.
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