Riot Platforms Stock Gains as Bitcoin Crosses $72,000

Shares of Riot Platforms Inc (NASDAQ:RIOT) are trading higher Thursday morning alongside the broader crypto sector.

Bitcoin Breakthrough Drives Gains

The stock is catching a bid as Bitcoin (CRYPTO: BTC) broke above key resistance to trade past $72,000, boosted by sector sentiment following Wednesday’s White House crypto summit hosted by President Donald Trump.

As one of the premier public digital infrastructure operators, Riot’s equity serves as a high-beta proxy for spot Bitcoin prices.

Q2 Earnings Highlight $9.8B AI Pipeline

Riot also released its second-quarter financial results on Aug. 10, posting $174.2 million in total revenue, up 14% year-over-year. The growth was driven by $23.2 million from its expanding data center business, helping the firm maintain over $1.2 billion in liquid assets despite net loss pressures from higher all-in mining costs.

Alongside the quarter’s numbers, Riot announced a major 20-year lease agreement with AI firm Anthropic for 191 megawatts of power at its Rockdale, Texas campus. Added to an existing agreement with AMD, the company has now secured 241 megawatts of capacity representing approximately $9.8 billion in long-term contracted revenue.

Management Comments on Infrastructure Execution