Overview

* Riot Q2 revenue rises to $153 mln, largely in line with analyst expectations, per LSEG data

* Net income reaches record $219.5 mln, driven by Bitcoin mining revenue

* Adjusted EBITDA hits $495.3 mln, reflecting strong operational performance

Outlook

* Riot Platforms ( RIOT ) focuses on optimizing its ready-for-service power portfolio for future growth

* Company aims to expand high-value data centers

* Riot Platforms ( RIOT ) positioned to benefit from Bitcoin and computing demand

* Company leveraging robust balance sheet for strategic expansion

Result Drivers

* BITCOIN MINING REVENUE - Driven by higher average Bitcoin prices and increased in operational hash rate

* INCREASED BITCOIN PRODUCTION - Produced 1,426 Bitcoin, up from 844 in Q2 2024

* COST TO MINE - Cost per Bitcoin increased due to block subsidy 'halving' and higher global network hash rate

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Meet $153 mln $153.20

Revenue mln (13

Analysts

)

Q2 Net $495.30

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

* Wall Street's median 12-month price target for Riot Platforms Inc ( RIOT ) is $16.75, about 19.3% above its July 30 closing price of $13.52

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)