Riot Platforms Reports $167M Revenue in Q1, Data Center Business Grows
- Riot Platforms generated $167.2 million in revenue for the first quarter of 2026.
- The newly launched data center business contributed $33.2 million, offsetting a decline in Bitcoin mining revenue, which fell to $111.9 million from $142.9 million year-over-year.
- Riot produced 1,473 Bitcoin during the quarter, down from 1,530 a year earlier, with an increased average mining cost of $44,629 per coin.
- The company holds a total of 15,679 Bitcoin valued at approximately $1.1 billion as of March 31.
- Engineering revenue rose to $22.2 million from $13.9 million year-over-year.
Riot Platforms’ transition into a data center operator is highlighted by AMD’s decision to double its contracted capacity to support this growth strategy. The shift reflects broader trends among miners toward diversifying revenue streams amid tightening margins in the Mining industry.
Following the earnings report, Riot’s stock closed up by over seven percent at $18.50 and held significant cash reserves totaling $282.5 million.(Source)
