Riot Platforms Ramps Up to 514 BTC in Monthly Production, Backed by Hashrate Surge and Expansion Strategy

Riot Platforms Mines 514 BTC in May, Accelerates Push Into AI Infrastructure

Riot Platforms posted strong performance metrics for May, producing 514 bitcoin — up 11% from April and a significant 139% higher year-over-year. The company sold nearly all of its mined bitcoin, netting $51.3 million at an average price of $102,591 per BTC.

The miner’s operational scale also expanded, with total hashrate reaching 35.4 exahashes per second — a 5% monthly increase and up 142% from May 2024. Riot continued to drive efficiency gains, reducing energy consumption to 21.2 joules per terahash from 28 J/TH a year earlier.

Beyond mining, Riot is turning its focus toward the rapidly growing AI and high-performance computing space. In May, the company closed on a 355-acre land deal adjacent to its Corsicana site in Texas. CEO Jason Les said the land will be used to build hyperscale data centers tailored to support enterprise-grade AI workloads — a sector that demands far more infrastructure than traditional crypto mining.

To lead this transformation, Riot brought on Jonathan Gibbs as its new Chief Data Center Officer. A veteran in the infrastructure space, Gibbs will oversee the company’s entry into AI-ready data center development — a key step in Riot’s long-term diversification strategy.

Investors welcomed the update, with RIOT shares climbing 3.4% in Tuesday’s session.