Riot Platforms Inc. (NASDAQ: RIOT) reported a 4% decline in bitcoin production for the first quarter of 2026, producing 1,473 bitcoin compared to 1,530 bitcoin in the same period last year, according to unaudited company data.

The bitcoin mining company sold 3,778 bitcoin during the quarter, generating net proceeds of $289.5 million at an average price of $76,626 per bitcoin. The company did not report bitcoin sales in the first quarter of 2025.

Riot's bitcoin holdings decreased 18% to 15,680 bitcoin as of quarter-end, down from 19,223 bitcoin held at the end of the first quarter 2025. The current holdings include 5,802 bitcoin classified as restricted.

The company's deployed hash rate increased 26% to 42.5 exahashes per second compared to 33.7 exahashes per second in the prior year period. Average operating hash rate rose 23% to 36.4 exahashes per second from 29.7 exahashes per second.

Power credits totaled $21.0 million, representing a 171% increase from $7.8 million in the first quarter of 2025. The company received $13.5 million in power curtailment credits and $7.5 million from demand response programs in Texas and Midwest grid markets.

Riot's all-in power cost decreased to 3.0 cents per kilowatt-hour from 3.8 cents per kilowatt-hour in the prior year quarter. Fleet efficiency improved to 20.2 joules per terahash from 21.0 joules per terahash.

The Castle Rock, Colorado-based company operates bitcoin mining facilities in Texas and Kentucky and is expanding into data center development.