Riot Platforms Reports First-Quarter Revenue for 2026
Riot Platforms has revealed its first-quarter revenue for 2026, which reached $167.2 million. This figure reflects a slight increase from the previous year’s $161.4 million during the same quarter. The company managed to produce 1,473 Bitcoin in this period, which is a decrease compared to the 1,530 Bitcoin mined in the first quarter of 2025.
Data Center Revenue and Expansion
In a notable development, Riot reported its inaugural data center revenue reaching $33.2 million; this included $32.2 million generated from tenant fit-out services and $0.9 million from leasing operations. Jason Les, the CEO, expressed optimism about this transition, stating,
“The first quarter of 2026 marks a definitive inflection point for Riot,”
signifying the company’s emerging role as a viable revenue-generating data center entity.
Moreover, Riot announced a significant expansion agreement with AMD, which opted for an additional 25 megawatts, totaling 50 megawatts of contracted critical IT capacity with the company. Les deemed this expansion as a testament to Riot’s capability to cater to substantial tenants, emphasizing plans to leverage its power resources further to enhance data center operations.
Bitcoin Mining Earnings and Market Activity
Despite the growth in data center revenue, Riot’s Bitcoin mining earnings saw a decline, falling to $111.9 million from $142.9 million a year prior. This drop was attributed to the reduced average prices of Bitcoin and a rising global network hash rate. In fact, the average cost of mining Bitcoin rose to $44,629, partially due to a 24% increase in the global hash rate.
During the first quarter, Riot also liquidated 3,778 Bitcoin, which resulted in proceeds of approximately $289.5 million. Subsequent to that, data from Lookonchain indicated that the company transferred an additional 500 BTC to an NYDIG deposit account, valued at around $39 million as of the reporting date.
Bitcoin Holdings and Stock Market Performance
At the conclusion of the quarter, Riot held 15,679 Bitcoin, with 5,802 of those serving as collateral. This total was estimated to be worth around $1.1 billion based on Bitcoin’s price of $68,222 on March 31. Additionally, Riot reported cash reserves totaling $282.5 million, which included $76.9 million that was restricted.
On the stock market, Riot shares climbed 7.9% during the trading session to close at $17.24 on Thursday, reflecting investor interest amid the shifting dynamics of the cryptocurrency mining and data center landscape.
