Riot Platforms achieved a net profit of $220 million in the second quarter, with Bitcoin mining costs almost doubling year-on-year

According to The Block, Nasdaq listed Bitcoin mining company Riot Platforms achieved a net profit of $220 million in the second quarter of 2025, reversing a loss of nearly $300 million in the first quarter. The company's cumulative net loss for this year was $76.9 million, mainly due to a 93% year-on-year increase in the cost of Bitcoin mining per coin, reaching a historical high. During the quarter, Riot produced a total of 1426 bitcoins and held a total of 19273, ranking fourth among global listed companies. The company is increasing its investment in high-performance computing and AI fields. It has already spent $28 million on land this year and plans to invest an additional $49 million by the end of the year. After the release of the financial report, Riot's stock price fell about 5% in after hours trading.