Bitcoin mining company Riot Blockchain recently reported its highest-ever quarterly revenue of $161.4 million for the first quarter of 2025, exceeding Wall Street estimates by 1%. Despite the revenue milestone, Riot Platforms posted a net loss of $296,367, attributing the loss to increased mining costs due to the “halving event” and a 41% rise in the global network hashrate. The average cost to mine Bitcoin in Q1 was $43,808, nearly double the cost compared to the same period last year. Riot Platforms’ stock (RIOT) closed trading on May 1 at $7.77, up 7.32%. The company produced 166 more Bitcoin during the quarter than in the previous year, valued at approximately $16.13 million with Bitcoin trading at $97,072. Riot currently holds 19,223 unencumbered Bitcoin, valued at around $1.86 billion. Additionally, Riot secured a $100 million credit facility from Coinbase using its Bitcoin reserves as collateral to fund further expansion. The CEO, Jason Les, noted that this marked Riot’s first Bitcoin-backed facility. Despite the positive revenue growth, investors should be cautious as all investment moves carry risks, and proper research is recommended before making any financial decisions.