Riot Platforms Reports Record Bitcoin Production in March

Riot Platforms (RIOT) delivered a strong operational update for March 2025, underpinned by a 13% monthly increase in bitcoin (BTC) production and deeper moves into the AI and HPC space. The company mined 533 BTC last month, marking its highest production level since the bitcoin halving in 2024 and a 25% increase year-over-year.

Riot’s bitcoin holdings rose to 19,223 BTC, highlighting continued accumulation despite market volatility. The company remains one of the most prominent publicly traded bitcoin miners in the U.S.

Focus on AI and High-Performance Computing

Riot revealed plans to “aggressively pursue” development of its Corsicana facility in Texas to tap into soaring demand for compute infrastructure driven by artificial intelligence and high-performance computing (HPC) applications.

A feasibility study by Altman Solon validated the site’s potential to host up to 600 megawatts of additional capacity for AI/HPC operations. The Corsicana location already boasts:

• 1.0 gigawatt of secured power (400 MW operational),
• 265 acres of land,
• And proximity to Dallas, a growing AI and cloud computing hub.

The site’s versatility in supporting both AI inference and cloud workloads enhances its attractiveness for enterprise clients.

Hash Rate, Efficiency, and Power Strategy

Riot maintained a deployed hash rate of 33.7 EH/s, with its average operating hash rate rising 3% month-over-month to 30.3 EH/s—representing a staggering 254% growth year-over-year.

Despite a seasonal dip in power credits, Riot kept its all-in power cost at a low 3.8 cents per kWh. Additionally, the company achieved a 22% improvement in fleet efficiency, with energy usage dropping to 21.0 joules per terahash (J/TH).

Market Reaction and Share Performance

Riot’s shares declined 5.5% on Friday, underperforming the Nasdaq 100’s 2.8% drop. The stock is down 35% year-to-date, but analysts note that the company’s diversification into AI infrastructure may offer long-term upside beyond traditional bitcoin mining.

Bitcoin Meets AI

Riot’s latest update signals a strategic pivot beyond bitcoin mining. By leveraging its energy infrastructure and scaling up the Corsicana site, the firm is positioning itself at the intersection of bitcoin and next-gen computing.

With BTC production strong and demand for AI compute capacity rising, Riot Platforms could emerge as a dual-growth story for investors eyeing exposure to both digital assets and artificial intelligence.