$BTC The Bitcoin mining company Riot Platforms recorded the highest quarterly revenue in its history, yet still reported losses, as mining costs have nearly doubled compared to the same period last year, due to its efforts to expand its facilities.

"We have reached a new record for quarterly revenue this quarter: $161.4 million," stated Jason Les, CEO of Riot, in a first-quarter earnings report for 2025 published on May 1. The company just surpassed Wall Street estimates of $159.79 million by 1%.

Riot's revenue in the first quarter represented a 50% jump compared to the same quarter of the previous year$BTC