**Bitcoin Mining Giant Riot Platforms Reports Revenue Surge Amid Expansion Challenges**

Riot Platforms, a major player in Bitcoin mining, announced a 65% year-on-year revenue increase, hitting $84.8 million this quarter. CEO Jason Les attributed the growth to a significant boost in deployed hashrate, allowing the production of 1,104 Bitcoins.

Despite this success, Riot faced a net loss of $154 million, driven by reduced power credits and increased operating expenses. The average cost to mine one Bitcoin was $35,376, thanks to energy efficiency.

Riot holds a strong balance sheet with $1.3 billion in cash and equity securities and 10,427 Bitcoins valued at around $750 million. However, hashrate projections have been adjusted due to slower-than-expected expansion in Kentucky and delays at the Corsicana Facility.

Riot's stock dipped 3.6% to $9.86 in after-hours trading and is down 32% year-to-date.