Riot Platforms reported first-quarter 2026 revenue of $167.2 million. This compares with $161.4 million in the same quarter last year.
Summary
- Riot generated $167.2 million in Q1 revenue as data center income reached $33.2 million.
- AMD doubled its contracted Riot data center capacity to 50 megawatts after exercising an option.
- Riot sold 3,778 BTC in Q1 and later transferred another 500 BTC to NYDIG.
The company produced 1,473 Bitcoin during the quarter. That was lower than 1,530 Bitcoin produced in the first quarter of 2025.
Riot recorded its first quarter of data center revenue at $33.2 million. The amount included $0.9 million in operating lease revenue and $32.2 million from tenant fit-out services.
CEO Jason Les said the quarter marked a shift for Riot into a revenue-generating data center operator. He said, “The first quarter of 2026 marks a definitive inflection point for Riot.”
AMD doubles contracted capacity
Riot said AMD exercised an option for another 25 megawatts of capacity. This brings AMD’s total contracted capacity with Riot to 50 megawatts of critical IT capacity.
Les said AMD’s expansion “validates” Riot’s ability to deliver capacity for large tenants. The company said it now plans to use its approved power portfolio to grow the data center business.
Bitcoin sales continue amid mining pressure
Riot’s Bitcoin mining revenue fell to $111.9 million from $142.9 million a year earlier. The company linked the drop to lower average Bitcoin prices and a higher global network hash rate.
The average cost to mine Bitcoin, excluding depreciation, rose to $44,629. Riot said this was partly due to a 24% increase in the average global network hash rate.
Riot also disclosed that it sold 3,778 Bitcoin in Q1 2026. The sales generated $289.5 million in proceeds.
On-chain data cited by Lookonchain showed Riot later sent another 500 BTC to an NYDIG deposit address. The transfer was worth about $39 million at the time of reporting.
Riot stock rises after results
Riot ended the quarter with 15,679 Bitcoin. Of this amount, 5,802 Bitcoin were held as collateral. The total Bitcoin holdings were valued at about $1.1 billion based on a March 31 Bitcoin price of $68,222.
The company also held $282.5 million in cash, including $76.9 million in restricted cash. Riot shares closed at $17.24 on Thursday after gaining 7.9% during the session.
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