Despite Bitcoin’s April 2024 halving slashing block rewards in half, Riot Platforms has defied expectations by achieving a post-halving monthly record of 533 Bitcoin produced in March 2025. This impressive feat represents a 13% increase from February and a 25% jump year-over-year, with daily production averaging 17.2 Bitcoin.
Like a gardener who manages to grow more tomatoes after losing half their fertile soil, Riot has turned potential adversity into opportunity.
The company’s Bitcoin holdings have swelled to 19,223 by March’s end—a staggering 126% increase from the previous year. Meanwhile, Riot’s deployed hash rate reached 33.7 EH/s, reflecting 172% growth year-over-year. These numbers aren’t just digital bragging rights; they demonstrate Riot’s operational resilience in a post-halving landscape that many predicted would squeeze miners dry.
Operational efficiency has been key to this success. Riot maintained an average power cost of just 3.8 cents per kWh in March 2025, while keeping fleet efficiency steady at 21.0 joules per terahash. Riot’s commitment to not selling any Bitcoin has reinforced their HODLing strategy throughout market fluctuations.
The company has dramatically reduced its reliance on power credits—down 92% month-over-month—suggesting a more sustainable operational model. This shift aligns with the industry’s growing concerns about energy consumption as Bitcoin mining globally uses more electricity than many countries combined.
Beyond mining, Riot is diversifying its portfolio with an eye toward AI applications. Following a thorough feasibility study, the company’s Corsicana, Texas facility—equipped with 1.0 GW of power capacity—is being positioned for High-Performance Computing applications. Roth MKM continues to support this strategic direction with a Buy rating and a $20 price target that highlights Riot’s AI/HPC potential.
With 265 acres of development-ready land and proximity to Dallas offering low-latency benefits, Riot’s pivot represents a hedge against Bitcoin’s inherent volatility.
This strategic shift includes halting Phase II Bitcoin mining expansion at Corsicana and revising 2025 hash rate expectations down to 38.4 EH/s from 46.7 EH/s.
The company’s financial health appears robust, with FY24 adjusted EBITDA reaching $463.2 million and stock prices climbing 7.86% alongside Bitcoin’s recent price surge.
For Riot, the post-halving era isn’t just about survival—it’s becoming a launchpad for diversified growth.
