Riot Platforms, Inc. Q1 2026 Earnings Release

Riot Platforms, Inc. reported its Q1 2026 financial results, highlighting a significant transition to an active, revenue-generating data center operator. The company generated total revenue of $167.2 million, with $33.2 million from Data Center operations. A key development was AMD exercising an option for an additional 25 MW of capacity, bringing the total contracted capacity with AMD to 50 MW. The company produced 1,473 bitcoin in Q1 2026, with an average cost to mine of $44,629 per bitcoin. Bitcoin Mining revenue was $111.9 million, while Data Center revenue, a new segment, contributed $33.2 million. Engineering revenue also saw an increase to $22.2 million. Riot maintained a strong liquidity position with 15,679 bitcoin and $282.5 million in cash on hand as of March 31, 2026. The company also reported progress in its data center development, including the commencement of core and shell building at Corsicana and securing long-lead items for full buildout.