Bitcoin Miner Revenue Hits 10-Year Low as Costs Exceed Spot Price
RIOT sits 84% above its 52-week low of $11.15.
Summary
Bitcoin miner fee revenue has fallen to 0.52% of total revenue, the lowest since 2016, as BTC price declines and rising electricity costs squeeze margins. The average production cost of $78,254 per Bitcoin is now 23% above the spot price of $63,850, making mining unprofitable for many. This industry-wide pressure is accelerating the pivot to AI data centers, a strategy Riot Platforms has already embraced with its recent $9.1B Anthropic cloud deal. The news underscores the ongoing headwinds for Riot's core mining business, even as its data center pivot gains traction. With Bitcoin trading at roughly half its October 2025 all-time high, smaller miners are being forced out, potentially benefiting larger players like Riot that have secured alternative revenue streams.
At the time of this announcement, RIOT was trading at $20.48 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $11.15 to $30.32. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: CryptoProwl.