Choose Rich Live
Crypto News

Riot Platforms posts $181.4 million Q3 revenue and signs $28 billion Corsicana AI lease

Riot Platforms reported third-quarter revenue of $181.4 million and announced a 15-year, $28 billion powered land lease for its Corsicana campus with a leading artificial intelligence lab, following aggressive bitcoin sales to fund data center construction.

Aerial view of a large-scale Riot industrial data center campus with the Riot logo overlaid in the center.
Image: @WuBlockchain

Riot Platforms generated $181.4 million in revenue for the third quarter of 2026, edging up 1% year over year and beating analyst estimates of $161 million, according to company earnings figures reported by Wall St Engine and Wu Blockchain. Bitcoin mining contributed $116.0 million, falling about 28% from the prior year but topping expectations, while engineering revenue reached $47.0 million against a $29.63 million projection. Data center operations added $18.4 million, and quarterly net income settled at $4.03 million, down from $104 million in the third quarter of 2025.[2][3]

Alongside earnings, Riot announced what chief executive Jason Les called the largest lease in the company's history: a 15-year triple-net powered land lease covering its entire 332-acre Corsicana campus with an unnamed leading Frontier AI Lab. The agreement spans 910 megawatts of critical IT capacity, representing roughly $28 billion in contracted revenue over the initial term and approximately $1.8 billion in average annual rent. Combined with an earlier AMD contract and a Rockdale facility agreement with the same AI lab, Riot's total contracted capacity expanded to 1,151 megawatts, bringing long-term contracted revenue to around $38 billion.[2][3]

To finance its pivot into high-performance computing and data center development, Riot liquidated 10,599 bitcoin during the quarter, shrinking its corporate treasury by nearly 79% from 11,380 BTC at the end of June to 2,418 BTC by late September. Year to date, the miner has sold 20,264 bitcoin for roughly $1.5 billion in proceeds. Riot concluded the quarter with $950.2 million in combined cash and bitcoin, noted that it raised no equity in 2026, and stated it does not expect to issue equity to finance announced projects.[1][2][3]

Key facts

  • Riot Platforms posted Q3 2026 revenue of $181.4 million, up 1% year over year and beating the $161 million consensus estimate.
  • Riot signed a 15-year triple-net powered land lease with a leading Frontier AI Lab for its entire 332-acre Corsicana campus.
  • The Corsicana lease covers 910 megawatts of critical IT capacity, with an initial contract value of approximately $28 billion and average annual rent of about $1.8 billion.
  • Riot's total contracted data center capacity reached 1,151 megawatts, representing approximately $38 billion in long-term contracted revenue.
  • Riot sold 10,599 bitcoin in Q3, reducing its holdings by nearly 79% from 11,380 BTC at the end of June to 2,418 BTC at the end of September.
  • Year-to-date bitcoin sales totaled 20,264 BTC, raising approximately $1.5 billion primarily to fund data center construction.
  • Riot reported $950.2 million in cash and bitcoin, raised no equity in 2026, and stated it does not expect to issue equity to fund announced projects.

Sources · 3 sources

  1. CB

    Crypto BriefingArticle ·

    Riot sells 20,264 Bitcoin for $1.5B to fund data center expansion Riot's strategic leases could enhance long-term growth, but managing debt and timely project execution are crucial for sustained success. The post Riot sells 20,264 Bitcoin for $1.5B to fund data center expansion appeared first on Crypto Briefing .

    Open source
  2. WB

    Wu Blockchain@WuBlockchainPost on X ·

    Second-Largest Bitcoin Miner Riot Sells 10,599 BTC in Q3, Holdings Drop Nearly 79% from End of June Riot Platforms, the second-largest publicly listed Bitcoin mining company, sold 10,599 Bitcoin in the third quarter, reducing its holdings from 11,380 at the end of June to 2,418 at the end of September, a decline of nearly 79%. In the first nine months of the year, Riot sold a total of 20,264 BTC for approximately $1.5 billion, primarily to fund data center construction. The company reported third-quarter revenue of $181 million, up 1% year-over-year, with net income of $4.03 million, compared with $104 million in the same period last year. Bitcoin mining revenue was $116 million, down about 28% year-over-year. Riot also signed a 15-year data center lease agreement with an unnamed leading AI lab for 910 MW of IT capacity, with an initial contract value of approximately $28 billion. The company has now contracted a total of 1,151 MW of data center capacity, with long-term contract revenue of about $38 billion.

    Open source
  3. WS

    Wall St Engine@wallstenginePost on X ·

    $RIOT PLATFORMS Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $181.4M (Est. $161M) 🟢; +1% YoY Segment Revenue: 🔹 Bitcoin Mining Revenue: $116.0M (Est. $112.85M) 🟢 🔹 Engineering Revenue: $47.0M (Est. $29.63M) 🟢 🔹 Data Center Revenue: $18.4M Other Q3 Metrics: 🔹 Bitcoin Mined: 1,637 (Est. 1,628) 🟢 Announcements: 🔹 Corsicana Lease: 15-year lease; 910 IT MW; ~$28B contract value; ~$1.8B average annual rent 🔹 Contracted Capacity: 1,151 MW; ~$38B long-term contracted revenue Key Updates: 🔹 Bitcoin Sales: 20,264 bitcoin sold YTD; ~$1.5B proceeds to fund data center development 🔹 Cash and Bitcoin: $950.2M; no equity raised in 2026 Comments: 🔸 “Today, we are excited to announce the largest lease in Riot’s history: a 15-year triple-net powered land lease with a leading Frontier AI Lab for the entirety of our Corsicana campus, representing 910 megawatts of critical IT capacity and approximately $28 billion of contracted revenue over the initial term.” 🔸 “That lower capital requirement, combined with our strong balance sheet, means that we do not currently anticipate issuing equity to fund our announced projects.”

    Open source