Riot Platforms achieved record revenue of $376.7 million and grew its Bitcoin holdings to 17,722 coins in 2024 despite industry challenges.
The company is now exploring AI and high-performance computing opportunities to fight the rising competition and hash rate.
Riot
Platforms, the publicly listed Bitcoin (BTC) miner from Wall Street (NASDAQ:
RIOT), announced record financial results for 2024, reporting $376.7 million in
total revenue and $109.4 million in net income. The results come despite facing
significant industry headwinds including Bitcoin's halving and a substantial
increase in hash rate or global competition.
Wall Street Bitcoin Miner Riot
Platforms Posts Record Revenue
The Bitcoin
mining company finished the year with a deployed hash rate of 31.5 EH/s and increased
its Bitcoin holdings to 17,722, up 141% from the previous year.
Jason Les, CEO of Riot Blockchain
"Riot
had a remarkable year in 2024, generating record revenue of $376.7 million and
net income of $109.4 million," said Jason Les, CEO of Riot. "These
results are particularly noteworthy in the context of the Bitcoin network's
'halving' in April of 2024, and an increase in global hash rate of 67% over the
course of the year."
In 2024,
the company energized its Corsicana
Facility and acquired Block
Mining and E4A Solutions, an electrical engineering services company.
Riot's power strategy proved effective, with an average all-in power cost of
3.4 cents per kilowatt hour across all facilities during the year.
Despite
these achievements, the company faced higher production costs. Riot reported an
average cost to mine each Bitcoin of $32,216 in 2024, a significant increase
from $3,831 in 2023. This rise was attributed to a 53% decrease in power
credits, the impact of the halving event, and the substantial increase in
global network competition.
More Money, But Less
Bitcoins
The company
produced 4,828 Bitcoin during the year, down from 6,626 in 2023. Bitcoin mining
revenue reached $321.0 million, a significant increase from $189.0 million in
the previous year, driven primarily by higher Bitcoin prices and increased
operational hash rate.
In December
2024, Riot completed a convertible senior notes offering that raised $579
million in net proceeds, which the company used to purchase an additional 5,784
Bitcoin. This strategic move contributed to what the company described as a
"39% Bitcoin yield" for shareholders in 2024.
Looking
ahead to 2025, Riot
is exploring opportunities in the AI and high-performance computing (HPC)
sectors, particularly for its power assets at the Corsicana Facility. The
company highlighted that this facility has one gigawatt of overall capacity,
with 600 megawatts currently unutilized, positioning it as a potentially
valuable asset near the Dallas metropolitan area.
“Due to our
efforts over the prior year, we are in an exceptionally strong position and
focused on executing on the exciting opportunities ahead of us to maximize
shareholder value, particularly on the AI/HPC front,” Les added.
$1.65B of Bitcoin Holdings
Riot
maintained a strong financial position at year-end with $439.1 million in
working capital, including $277.9 million in cash and $134.3 million in
marketable equity securities. Based on the December 31, 2024 Bitcoin price of
$93,354, the company's Bitcoin holdings were valued at approximately $1.65
billion.
The
company's engineering revenue segment saw a decline, generating $38.5 million
compared to $64.3 million in 2023. This decrease was primarily attributed to
delays in a large manufacturing contract due to supply chain constraints.
Last week,
two other publicly traded Bitcoin miners also released their earnings reports.
Phoenix Group, the first UAE-listed BTC producer, reported
higher mining revenue, but total revenue dropped nearly 30% to $206
million. Meanwhile, HIVE Digital Technologies reported
revenue of $29.2 million.
Riot
Platforms, the publicly listed Bitcoin (BTC) miner from Wall Street (NASDAQ:
RIOT), announced record financial results for 2024, reporting $376.7 million in
total revenue and $109.4 million in net income. The results come despite facing
significant industry headwinds including Bitcoin's halving and a substantial
increase in hash rate or global competition.
Wall Street Bitcoin Miner Riot
Platforms Posts Record Revenue
The Bitcoin
mining company finished the year with a deployed hash rate of 31.5 EH/s and increased
its Bitcoin holdings to 17,722, up 141% from the previous year.
Jason Les, CEO of Riot Blockchain
"Riot
had a remarkable year in 2024, generating record revenue of $376.7 million and
net income of $109.4 million," said Jason Les, CEO of Riot. "These
results are particularly noteworthy in the context of the Bitcoin network's
'halving' in April of 2024, and an increase in global hash rate of 67% over the
course of the year."
In 2024,
the company energized its Corsicana
Facility and acquired Block
Mining and E4A Solutions, an electrical engineering services company.
Riot's power strategy proved effective, with an average all-in power cost of
3.4 cents per kilowatt hour across all facilities during the year.
Despite
these achievements, the company faced higher production costs. Riot reported an
average cost to mine each Bitcoin of $32,216 in 2024, a significant increase
from $3,831 in 2023. This rise was attributed to a 53% decrease in power
credits, the impact of the halving event, and the substantial increase in
global network competition.
More Money, But Less
Bitcoins
The company
produced 4,828 Bitcoin during the year, down from 6,626 in 2023. Bitcoin mining
revenue reached $321.0 million, a significant increase from $189.0 million in
the previous year, driven primarily by higher Bitcoin prices and increased
operational hash rate.
In December
2024, Riot completed a convertible senior notes offering that raised $579
million in net proceeds, which the company used to purchase an additional 5,784
Bitcoin. This strategic move contributed to what the company described as a
"39% Bitcoin yield" for shareholders in 2024.
Looking
ahead to 2025, Riot
is exploring opportunities in the AI and high-performance computing (HPC)
sectors, particularly for its power assets at the Corsicana Facility. The
company highlighted that this facility has one gigawatt of overall capacity,
with 600 megawatts currently unutilized, positioning it as a potentially
valuable asset near the Dallas metropolitan area.
“Due to our
efforts over the prior year, we are in an exceptionally strong position and
focused on executing on the exciting opportunities ahead of us to maximize
shareholder value, particularly on the AI/HPC front,” Les added.
$1.65B of Bitcoin Holdings
Riot
maintained a strong financial position at year-end with $439.1 million in
working capital, including $277.9 million in cash and $134.3 million in
marketable equity securities. Based on the December 31, 2024 Bitcoin price of
$93,354, the company's Bitcoin holdings were valued at approximately $1.65
billion.
The
company's engineering revenue segment saw a decline, generating $38.5 million
compared to $64.3 million in 2023. This decrease was primarily attributed to
delays in a large manufacturing contract due to supply chain constraints.
Last week,
two other publicly traded Bitcoin miners also released their earnings reports.
Phoenix Group, the first UAE-listed BTC producer, reported
higher mining revenue, but total revenue dropped nearly 30% to $206
million. Meanwhile, HIVE Digital Technologies reported
revenue of $29.2 million.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Binance Junior Puts Crypto in Young Hands, but Keeps the Wallet with Mom and Dad
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
