Riot Platforms’ Operational Performance in March 2025
Riot Platforms (RIOT) has showcased impressive operational achievements for March 2025, marking a significant milestone in its ongoing expansion into the artificial intelligence (AI) and high-performance computing (HPC) sectors. The company reported a remarkable increase in bitcoin (BTC) production, reaching a total of 533 BTC last month. This figure stands out as the highest production level since the previous reward halving nearly a year ago. Notably, this represents a 13% increase compared to the previous month and a striking 25% rise year-over-year. Additionally, Riot’s bitcoin holdings have grown to an impressive 19,223 BTC.
In a strategic move to leverage the burgeoning demand for compute infrastructure in AI and HPC, Riot announced plans to aggressively pursue the development of its Corsicana facility. A recently completed feasibility study conducted by the industry consultancy Altman Solon has underscored the significant potential of this site to support up to 600 megawatts of additional capacity specifically designed for AI and HPC applications. The key advantages of the Corsicana site include securing 1.0 gigawatt of power, with 400 megawatts already operational, and a substantial 265 acres of land that offers significant development possibilities. Its proximity to Dallas, a major hub for AI and cloud computing, further enhances its strategic appeal.
The feasibility study also highlighted the site’s capability to support both inference and cloud-based workloads, which strengthens its attractiveness to potential AI and HPC tenants. In terms of operational efficiency, Riot maintained a steady deployed hash rate of 33.7 EH/s, while its average operating hash rate saw a month-over-month growth of 3%, now standing at 30.3 EH/s. This figure signifies an impressive 254% increase year-over-year.
Despite a seasonal decline in power credits, Riot has successfully kept its all-in power cost low at an attractive 3.8 cents per kWh. Furthermore, the company has enhanced its fleet efficiency, achieving 21.0 J/TH, marking a noteworthy 22% improvement from the previous year. However, Riot’s shares experienced a decline of 5.5% on Friday, coinciding with a 2.8% drop in the Nasdaq 100 index, reflecting broader market trends. Year-to-date, Riot’s shares have faced a significant downturn, losing 35% of their value.
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