Riot Platforms released unaudited production results for September 2025, reporting the mining of 445 bitcoin and the sale of 465 bitcoin for net proceeds of US$52.6 million, with an average daily production of 14.8 bitcoins and total holdings of 19,287 bitcoins at month-end.
A unique development is Riot’s ongoing transformation from a pure-play Bitcoin miner into an operator of large-scale data centers supporting artificial intelligence and high-performance computing, leveraging its substantial power capacity and infrastructure.
We'll examine how Riot's pivot to data center operations and robust September mining results shape the company's investment narrative.
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Riot Platforms Investment Narrative Recap
To invest in Riot Platforms, you need conviction in both the long-term demand for Bitcoin and the company's ability to pivot into large-scale data center operations supporting AI and high-performance computing. While September’s update reinforced Riot’s robust Bitcoin production and asset base, the company’s near-term trajectory will be most influenced by its success in signing meaningful data center leases; the recent production news, though positive, does not materially move this critical short-term catalyst or meaningfully address the biggest risk of underutilized power capacity.
An especially relevant company announcement is Riot’s appointment of Jonathan Gibbs as Chief Data Center Officer in June to drive operational excellence as it diversifies beyond pure Bitcoin mining. With the latest production numbers underscoring healthy mining activity, investors will be watching closely whether Gibbs’ team can convert Riot’s infrastructure investments into secured data center revenues, thus advancing the key growth catalyst underpinning the investment narrative.
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Read the full narrative on Riot Platforms (it's free!)
Riot Platforms' outlook anticipates $992.8 million in revenue and $125.7 million in earnings by 2028. This scenario assumes a 22.4% annual revenue growth rate and a $220.5 million increase in earnings from the current level of -$94.8 million.
Uncover how Riot Platforms' forecasts yield a $19.21 fair value, a 11% downside to its current price.
Exploring Other Perspectives
Five members of the Simply Wall St Community provided fair value estimates for Riot Platforms, ranging from US$11.79 to US$29.75 per share. While community opinions differ, analysts are watching whether data center expansion translates into sustainable new revenue streams, a key swing factor for future performance.
