Riot Platforms Inc. (NASDAQ: RIOT) has reported its financial results for the second quarter of 2025, showcasing a significant increase in net income and total revenue. The company achieved a net income of $219.5 million and adjusted EBITDA of $495.3 million. Total revenue for the quarter reached $153.0 million, a substantial rise from $70.0 million in the same period of 2024, primarily driven by an $85.1 million increase in Bitcoin Mining revenue. Bitcoin Mining revenue for the quarter was $140.9 million, a sharp increase from $55.8 million in the same quarter in 2024, attributed to higher average bitcoin prices and an increase in operational hash rate. Engineering revenue also saw a rise to $10.6 million compared to $9.6 million in the same period of 2024. Riot Platforms produced 1,426 bitcoins in the quarter, up from 844 in the same period in 2024. However, the average cost to mine bitcoin, excluding depreciation, increased to $48,992 from $25,329 per bitcoin, influenced by the block subsidy 'halving' event and a 45% rise in the average global network hash rate. The company maintains a strong financial position with $141.1 million in working capital, including $255.4 million in unrestricted cash and $62.5 million in marketable equity securities. Riot continues to focus on optimizing its power portfolio and expanding its capacities in high-value data centers, strengthened by new expertise in its team.