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

PANews reported on August 1st that 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 nearly $300 million loss in the first quarter. The company's cumulative net loss for the year was $76.9 million, primarily due to a 93% year-on-year increase in the cost of mining per Bitcoin, reaching a record high. During the quarter, Riot produced 1,426 Bitcoins and held a total of 19,273, ranking fourth among publicly listed companies globally. The company is increasing its investment in high-performance computing and AI, having spent $28 million on land purchases this year and plans to invest another $49 million by the end of the year. Following the release of the financial report, Riot's stock price fell approximately 5% after the market closed.