June production slipped from May, but annual growth remained strong
Riot Platforms, Inc. (NASDAQ: RIOT) reported that it produced 450 Bitcoin in June 2025. That figure was down 12% compared with May, showing a modest month-over-month slowdown in output. However, on a year-over-year basis, production was still up 76%, which suggests that Riot’s broader mining expansion remains intact despite short-term fluctuations in monthly results.
The company also posted a sharp increase in power-related income. Riot said its power credits totaled $5.6 million in June, more than double the previous month. For large-scale bitcoin miners, this kind of revenue can be an important complement to mining income, especially in regions where energy load management and grid participation programs create additional financial upside.
Bitcoin sales fell in volume, but realized pricing improved
During June, Riot sold 397 Bitcoin for $41.7 million. Compared with May, the company’s sales volume fell 21%, while proceeds declined 19%. Even so, Riot achieved a higher average realized sale price of $105,071 per Bitcoin. That means the company sold fewer coins, but benefited from a stronger market price environment when it did convert part of its holdings into cash.
At the end of the month, Riot held 19,273 Bitcoin on its balance sheet. That total was more than double the amount the company held in June 2024. This is a notable metric because public mining companies are often judged not only on production growth but also on treasury management, including how much Bitcoin they choose to retain versus sell to fund operations or expansion.
Operating hash rate declined slightly, while efficiency stayed firm
Riot’s average operating hash rate came in at 29.8 EH/s in June, down 5% from the previous month. On its own, that suggests a slight pullback in active mining output capacity. But in annual terms, the number still represented a 162% increase from the same period a year earlier, underscoring how much the company has scaled up over time.
Fleet efficiency remained at 21.2 J/TH, unchanged from the prior month and 18% better than a year earlier. In bitcoin mining, lower joules per terahash generally indicate better energy efficiency. Maintaining this level while sustaining a much larger operational footprint points to relatively disciplined equipment deployment and system optimization across Riot’s mining fleet.
ERCOT’s 4CP program highlights the value of Riot’s power strategy
CEO Jason Les said June’s mining results also coincided with the start of ERCOT’s Four Coincident Peak, or 4CP, program. According to Les, Riot’s power strategy includes economic curtailment as well as voluntary participation in 4CP and other demand response programs. These mechanisms allow mining operators to reduce power consumption during peak grid demand periods, helping support overall grid reliability.
Les argued that this strategy does more than stabilize the grid. It also strengthens Riot’s competitive position. That comment is important because it reflects a broader shift in the mining sector: power management is no longer just about controlling electricity costs. In markets like Texas, miners can create additional value through flexible load behavior, demand response participation, and related power credits. Riot’s $5.6 million in June power credits is a clear example of that model in action.
April results and the Rhodium acquisition provide added context
Riot’s June update follows a similar pattern seen in April. In that month, the company produced 463 Bitcoin and sold 475 Bitcoin for $38.8 million, with an average sale price of $81,731 per coin. Compared with June’s average sale price of $105,071, the April data shows how much pricing conditions improved even though the company sold fewer Bitcoin in the later month.
April was also significant because Riot completed a major acquisition. The company acquired all tangible assets of Rhodium at its Rockdale Facility, including 125 MW of power capacity. Jason Les said the transaction also brought an end to all outstanding litigation between the parties. That matters strategically because it simplifies Riot’s operational control at the site while increasing access to power capacity, a critical resource in industrial-scale bitcoin mining.
Les added that the deal ended the hosting agreement with Riot’s last hosting client and marked the company’s complete exit from the bitcoin mining hosting business. This signals a clearer strategic focus going forward. Rather than splitting attention between hosting services and self-mining operations, Riot now appears to be concentrating on directly operated mining infrastructure, bitcoin treasury growth, and power-market optimization as core pillars of its business model.