Riot Platforms reported record annual revenue driven by AI.
Mining company Core Scientific plans to sell all of its 2,537 BTC (approximately $170 million at current rates). The proceeds will be used to enhance liquidity and fund its AI strategy, according to its annual report.
The firm aims to sell the majority of its Bitcoin reserves by the end of the first quarter, with timing and amounts dependent on market conditions.
As of the end of 2025, Core Scientific held 2,537 BTC (valued at $222 million at that time) at an average price of $101,639 per coin. In comparison, the company managed only 256 BTC at the end of 2024. All assets were acquired through mining.
However, cryptocurrency mining revenue fell to $42.2 million in the fourth quarter, with total revenue dropping to $79.8 million from $94.9 million a year earlier.
Core Scientific has focused on increasing revenue from leasing computing infrastructure, which surged more than threefold over the year to $31.3 million, up from $8.5 million in 2024.
In July 2025, AI-focused CoreWeave acquired Core Scientific for $9 billion.
“We have already completed half of our current projects and are scaling our colocation platform to a 1.5 GW pipeline ready for lease. With our presence in multiple regions and proven expertise, we are accelerating the rollout of facilities to ensure sustainable growth for the company,” said miner CEO Adam Sullivan.
Gross profit for the quarter rose to $20.8 million (up from $4.8 million in 2024), but adjusted EBITDA remained negative at -$42.7 million. At year-end, the firm's liquidity stood at $533.4 million.
Previously, miner Bitdeer announced the sale of its entire Bitcoin reserve, with company representatives explaining the decision was driven by a desire to acquire new assets.
Profitable AI
Mining company Riot Platforms reported record annual revenue in 2025. Over the 12 months, its income nearly doubled from $376.7 million to $647.4 million.
The firm attributed this positive trend to a strategic pivot towards infrastructure for artificial intelligence and high-performance computing (HPC).
Riot also increased Bitcoin production to 5,686 BTC from 4,828 BTC the previous year. Mining revenue rose to $576.3 million, aided by a price increase for the asset during most of the reporting period. Meanwhile, the cost of mining rose to $49,645 per coin.
The company currently holds over 18,000 BTC on its balance sheet.
“2025 was a turning point for Riot, marking a strategic evolution of the business. By leveraging our energy portfolio of nearly 2 GW for high-demand data center infrastructure, we are creating value for shareholders,” said CEO Jason Les.
In mid-January, Riot announced the establishment of a facility in partnership with chipmaker AMD. According to Les, the partnership is already generating profits.
Activist investor Starboard Value valued the company's new AI and HPC direction at $21 billion, urging the miner to accelerate its pivot in line with competitors.
Conflict Resolution
Riot Platforms also reached a settlement with SBI Crypto, paying $20 million in cash. SBI sued the miner in 2023, accusing the company of breach of contract, fraud, and negligence in equipment storage.
The final settlement amount was significantly lower than SBI's initial demands. The plaintiff sought over $175 million (part of which was calculated based on Bitcoin's price increase) and an additional $50 million for equipment upgrades. The lawsuit also included penalties, legal fees, and interest.
Later, the company attempted to increase its claims to $350 million through expert testimony, which the court rejected.
Recall that at the end of February, Bitcoin miner MARA Holdings reported losses of $1.7 billion amid falling digital gold prices. The firm plans to shift its focus to artificial intelligence.