Riot Platforms(US:RIOT) Benzingaยท2025-10-30 21:11Financial Performance - Riot Platforms Inc reported third-quarter revenue of $180.2 million, exceeding analyst estimates of $172.6 million [2] - The company achieved earnings of 26 cents per share, surpassing estimates of 21 cents per share [2] Bitcoin Production - During the quarter, Riot produced 1,406 Bitcoin, an increase from 1,104 Bitcoin in the same quarter of the previous year [3] - The average cost to mine Bitcoin was $46,324 [3] - At the end of the quarter, Riot held a total of 19,287 Bitcoin [3] Cash Position - Riot had $330.7 million of unrestricted cash on hand at the end of the quarter [3] Data Center Development - The company made significant progress in its data center business, initiating core and shell development of the first two buildings at the Corsicana data center campus, representing 112 MW of total critical IT capacity [4] - Riot acquired an additional 67-acre parcel of land adjacent to its original Corsicana site and completed the campus design [5] - The basis of design for its standard data center build has been completed, and the in-house data center team is ongoing [5] Strategic Vision - These developments are part of Riot's strategy to transform into a large-scale, multi-faceted data center operator [6] Market Reaction - Following the earnings report, Riot shares increased by 2.89%, trading at $21.70 in after-hours [6]