Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Riot Platforms (RIOT) reported mining 477 Bitcoin (BTC) in August, marking a substantial 48% increase compared to the 322 BTC mined in August 2024. Despite this significant year-over-year growth, the figure represents a slight 2% decrease from the 484 BTC produced in July 2025, as the company continues to expand its operational hashrate and leverage strategic power management.
Mining Production and Treasury Management
The Bitcoin mining firm’s average daily production for August stood at 15.4 BTC. This is a minor dip from July’s 15.6 BTC but a notable increase from the 10.4 BTC produced in August of the previous year.
Riot strategically added 22 BTC to its treasury during August, bringing its total Bitcoin holdings to 19,309 BTC by the end of the month. Concurrently, the company executed a sale of 450 BTC, generating net proceeds of $51.8 million to support its operations and financial strategy.
Hashrate Expansion and Operational Capacity
Riot’s deployed hashrate saw an increase in August, reaching 36.4 exahashes per second (EH/s), up from 35.5 EH/s reported in July. This expansion reflects the company’s ongoing efforts to boost its computing power for Bitcoin mining.
The average operating hashrate also climbed to 31.4 EH/s, indicating a robust and active mining infrastructure. These figures underscore Riot’s commitment to scaling its capacity within the competitive mining landscape.
Strategic Power Management and Efficiency
Power management continued to be a critical driver of value for Riot. The company reported total power credits of $16.1 million, a significant 148% increase year-over-year, alongside $0.9 million contributed by demand response credits.
These credits were instrumental in helping Riot maintain an all-in power cost of 2.6 cents per kilowatt-hour (kWh), a rate consistent with August 2024 and 7% lower than July’s figures. The company’s fleet efficiency was recorded at 21.0 joules per terahash (J/TH), reflecting optimized energy usage.
Core Operational Strategy
Riot’s operations in Texas and Kentucky remain central to its overarching strategy. This involves integrating large-scale compute capacity with grid-responsive power credits, a model designed to enhance both mining output and cost efficiency.
In summary, Riot Platforms demonstrated strong year-over-year growth in Bitcoin production for August, supported by expanding hashrate and effective power management strategies. The company continues to balance its treasury management with significant operational investments, particularly in its key mining locations.