Riot Sold 20,264 Bitcoin to Fund Data Center Buildout in 2026

Riot Platforms sold 20,264 Bitcoin (BTC) during the first nine months of 2026, bringing in about $1.5 billion that it largely directed to data-center construction, as third-quarter revenue rose 1% year over year to $181 million.

Bitcoin mining revenue fell to $116 million from $161 million in the year-earlier quarter. The average Bitcoin price declined to $70,855 from $114,361, while Riot’s mining output increased 16% to 1,637 BTC from 1,406 BTC. Mining cost per coin, excluding depreciation, dropped to $39,265 from $46,324.

Data-center revenue reached $18.4 million, including $7.7 million in base rent in the first full quarter after Riot delivered 25 megawatts of capacity to AMD. Engineering revenue rose to $47 million from $19.1 million. Together, engineering and data centers generated $65.4 million, compared with $116 million from mining. Net income fell to $4.03 million from $104 million, while adjusted EBITDA was $191 million versus $197 million.

Riot signed a 15-year lease with an unnamed leading AI lab for all 910 megawatts of critical IT capacity at its Corsicana campus. The initial term has an estimated contract value of about $28 billion, with average annual rent of about $1.8 billion. Deliveries are scheduled in three phases from September 2027 through July 2028.