Listed Bitcoin miner Riot Platforms (NASDAQ:RIOT) released its unaudited Q1 2026 operational update on April 2. The company produced 1,473 BTC during the quarter, while total deployed hashrate climbed to 42.5 EH/s. Riot also monetized a portion of its Bitcoin holdings, generating $289 million in net proceeds.
Q1 Production Dips Slightly; 3,778 BTC Sold for $289M
According to official figures, Riot mined 1,473 BTC in Q1, down 4% from 1,530 BTC in the same period last year. Average daily production stood at 16.4 BTC. The company sold 3,778 BTC at an average net price of $76,626, yielding approximately $289 million in net gains. As of quarter-end, Riot held 15,680 BTC on its balance sheet, down 18% from 19,223 BTC a year earlier, signaling an active strategy to liquidate assets for working capital and infrastructure expansion.
Hashrate Jumps 26%; Power Costs Cut Sharply
In terms of mining fleet deployment, total deployed hashrate reached 42.5 EH/s by the end of Q1, a 26% increase from 33.7 EH/s in Q1 2025. Average miner efficiency improved from 21.0 J/TH to 20.2 J/TH. On the cost side, Riot secured $21 million in power-related credits through demand response programs, a 171% surge from $7.8 million in Q1 2025. As a result, its overall blended power cost dropped to 3.0 cents/kWh, 21% lower than a year ago.
Riot maintained a competitive edge amid rising mining difficulty by expanding hashrate and managing energy costs effectively. The company noted it is actively pursuing large-scale data center projects to meet growing demand for high-density computing.