BTCUSDRIOT

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 focuses on optimizing its ready-for-service power portfolio for future growth
• Company aims to expand high-value data centers
• Riot Platforms 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/Miss	Actual	Consensus Estimate
Q2 Revenue	Meet	$153 mln	$153.20 mln (13 Analysts)
Q2 Net Income		$495.30 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 is $16.75, about 19.3% above its July 30 closing price of $13.52

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