June Production and Sales Overview
Riot Platforms, Inc. (NASDAQ: RIOT) announced today that it produced 450 Bitcoin in June 2025, representing a 12% decrease from May 2025 but a 76% increase year-over-year. The company sold 397 Bitcoin for $41.7 million during the month, a 21% decline in volume and a 19% drop in proceeds compared to May, though at a higher average price of $105,071 per coin. As of June 30, Riot held 19,273 Bitcoin, more than double the 9,726 Bitcoin held in June 2024.
Power Credits and Operational Efficiency
Riot generated $5.6 million in power credits in June, more than double the prior month, driven by participation in ERCOT's Four Coincident Peak (4CP) and other demand response programs. CEO Jason Les stated, “Riot’s power strategy, which includes economic curtailment and voluntary participation in the 4CP and other demand response programs, significantly contributes to grid stability while enhancing Riot’s competitive positioning.” The company's average operating hash rate reached 29.8 EH/s, down 5% from May but up 162% year-over-year. Fleet efficiency held steady at 21.2 J/TH, an 18% improvement over the prior year.
Acquisition of Rhodium Assets and Strategic Shift
June's performance follows a similar April, in which Riot produced 463 Bitcoin, sold 475 Bitcoin for $38.8 million at an average price of $81,731, and completed a significant acquisition. The company acquired all tangible assets of Rhodium at its Rockdale Facility, including 125 MW of power capacity, and mutually ended all outstanding litigation. Les noted, “This transaction ends the hosting agreement with our last hosting client and marks the complete exit of Riot from the Bitcoin mining hosting business.” The move aligns with Riot's strategy to focus on self-mining operations.
CEO Outlook and Market Implications
Riot’s growing Bitcoin inventory (now valued at nearly $2 billion at current prices) and improving operational metrics underscore its resilience post-halving. The company’s ability to generate substantial power credits while maintaining competitive mining costs positions it favorably among peers. With the exit from hosting, Riot is now a pure-play Bitcoin miner, leveraging its 125 MW capacity expansion and efficiency gains to capture upside from Bitcoin’s price appreciation.