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Riot Platforms, Inc. RIOT Bitcoin Mining — Cost Of Revenue

Discontinued — last reported Q3 '24

Similar metrics at other companies

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IRENBitcoin mining — Cost of Revenue
$35.34M-15.1%
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$17.71M+18.9%
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HUTMining Properties And Mineral Rights — Cost Of Revenue
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$7.26M-33.3%
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IRENBitcoin mining — Electricity
$30.65M-22.1%
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IRENBitcoin mining — Other direct expenses
$1.14M+96.4%

Other financials

Income statement

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Revenue$167.2M+3.6%
Operating income-$499.9M-114%
Net income-$500.5M-68.9%
EPS (diluted)-$1.44-60.0%

Balance sheet

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Cash & equivalents$205.7M+25.6%
Total debt$877.2M+41.8%
Total equity$2.4B-18.7%
Total assets$3.4B-7.6%

Cash flow

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Operating cash flow-$182.7M-49.6%
CapEx$115.5M+251%
Free cash flow-$298.1M-92.4%

Valuation

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Market cap$10.63B+87.9%
Enterprise value$11.3B+81.7%
P/S16.3×+3.9×

Profitability

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Gross margin62.4%
Operating margin-136%-835pp
Net margin-132.8%+148pp
FCF margin-140.4%+36.0pp

Returns & leverage

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Return on equity-32.5%-189pp
Debt / equity0.4×+0.2×
Current ratio1.1×-2.1×

Where this comes from

Reported directly by Riot Platforms, Inc. in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

The official record: Riot Platforms, Inc.’s 10-Q, filed November 4, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is Riot Platforms, Inc.'s bitcoin mining — cost of revenue?
Riot Platforms, Inc. (RIOT) reported bitcoin mining — cost of revenue of $90M in Q3 2024.
What does bitcoin mining — cost of revenue mean?
The total direct costs required to operate and maintain the infrastructure used to mine Bitcoin.
How do you interpret bitcoin mining — cost of revenue?
An increase in cost of revenue relative to total segment revenue suggests declining operational efficiency or rising energy costs, while a decrease indicates improved mining margins or more efficient hardware deployment.
How does bitcoin mining — cost of revenue compare across companies?
Peers in the digital asset mining industry typically report this as direct mining costs, often benchmarked against hash rate efficiency and energy cost per kilowatt-hour.