Riot Platforms Reports Q3 Revenue of $181 Million, Signs $28 Billion AI Data Center Lease Agreement

According to TechFlow, on November 04, based on Riot Platforms' third quarter 2026 earnings report, total quarterly revenue was $181.4 million, up 1% year over year. Data center revenue was $18.4 million, Bitcoin mining revenue was $116 million, and engineering services revenue was $47 million. The company produced 1,637 Bitcoin during the quarter, up 16% year over year. Adjusted EBITDA was $191.3 million. As of September 30, the company held approximately $748.2 million in cash and 2,418 BTC, with a combined value of approximately $950.2 million.

On the business front, Riot signed a 15-year, triple-net power land lease agreement for 910 MW of critical IT capacity with a leading Frontier AI Lab, covering the entire Corsicana campus, with an initial total contract value of approximately $28 billion and average annual rent of approximately $1.8 billion. The agreement includes two 5-year extension options; if all exercised, the total contract value could reach approximately $54 billion.

Combined with previously signed agreements with AMD and the same Frontier AI Lab, Riot has contracted 1,151 MW of critical IT capacity, with total long-term data center contract revenue of approximately $38 billion. The company stated that it currently does not expect to finance announced projects through equity issuance. In the first nine months of 2026, Riot sold 20,264 BTC for approximately $1.5 billion, primarily used for data center construction.

Source: TechFlow