Riot Platforms reported first-quarter revenue of $161.4 million, beating estimates, but posted a loss of 90 cents per share. Total revenue rose from $79.3 million a year ago, driven largely by a $71.5 million increase in Bitcoin mining revenue. CEO Jason Les said the company made strong financial and strategic progress in the first quarter 2025. The company reported significant progress on its AI/HPC data center business during the quarter, aiming to attract customers by acquiring more land and improving site infrastructure. Construction is expected to finish by early 2026.
