RIOT flips MARA, becomes second largest public Bitcoin miner

Company Performance - Riot Platforms' shares increased significantly on September 24, opening at $17.82 and rising above $19, resulting in a market capitalization of approximately $7.04 billion, surpassing Marathon Digital Holdings (MARA) which has a valuation of $6.8 billion, making Riot the second most valued public bitcoin miner [1]. - In July 2025, Riot produced 484 BTC, an 8% increase from June's production of 450 BTC, but saw a decline in August with 477 BTC mined, representing a 2% month-over-month decrease [2][4]. - The company reported a return to profitability in its Q2 2025 earnings, indicating a positive financial turnaround [3]. Strategic Developments - Riot Platforms is expanding into high-performance computing, having hired Jonathan Gibbs as Chief Data Center Officer to lead scalable data-center development [3].