Riot Platforms Reports $33.2M Data Center Revenue; AMD Expands Capacity to 50 MW
Riot Platforms' first-quarter 2026 data center revenue reached $33.2 million, marking a significant shift towards serving AI and data center clients. Advanced Micro Devices has doubled its contracted capacity to 50 megawatts, underscoring Riot's growth strategy in this sector.
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Riot Platforms generated $167.2 million in total revenue for Q1 2026, with $111.9 million from its bitcoin mining operations, which saw a decline due to lower production and prices. The new data center revenue segment, constituting approximately 20% of total revenue, is largely attributed to Riot's agreement with AMD.
AMD has exercised an option to expand its contracted capacity by 25 megawatts, now totaling 50 megawatts. Riot sold 3,778 BTC during the quarter, resulting in proceeds of $289.5 million, while holding 15,679 BTC valued at about $1.1 billion.
The average cost to mine Bitcoin rose to $44,629 amid a higher global hash rate. Leadership changes occurred with the appointment of Adam Black as Chief Data Center Officer. The shifts indicate potential risks in mining profitability but also opportunities for growth in data center services.
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