With Hashrate and Expansion on the Rise, Riot Platforms Lifts Bitcoin Production to 514 BTC

Riot Platforms Reports Strong May Bitcoin Output, Expands Into AI Data Center Infrastructure

Riot Platforms (RIOT) mined 514 bitcoin in May, marking an 11% increase over April and a 139% rise year-over-year, the company disclosed Tuesday. The miner generated $51.3 million in proceeds by selling nearly all of its newly produced BTC at an average price of $102,591.

Hashrate growth remained on track, with Riot’s deployed computing power rising to 35.4 EH/s — a 5% monthly gain and up 142% from the same period last year. Operational efficiency also improved, as power consumption dropped to 21.2 joules per terahash, compared to 28 J/TH in May 2024.

Looking beyond bitcoin mining, Riot announced a strategic expansion into AI and high-performance computing. The company acquired 355 acres near its Corsicana, Texas facility to build large-scale data centers aimed at enterprise and hyperscale clients.

To spearhead this transition, Riot appointed Jonathan Gibbs as Chief Data Center Officer. His role will focus on building infrastructure capable of supporting AI workloads, signaling the firm’s long-term diversification strategy.

RIOT shares were up 3.4% in Tuesday trading following the update.