- Riot Platforms’ revenue stands at $ 167.2 million, with $ 33.2 million from data centers.
- Revenue from bitcoin has decreased to $111.9 million due to higher costs and increased hash rate.
- Riot holds 15,679 bitcoins in reserves, $ 1 billion, and is expanding its Texas infrastructure.
Riot Platforms’ financial results for Q1 of 2026 reveal a structural change in the company’s revenues, with Riot increasing the use of its data center while experiencing lower mining revenues. Riot Platforms’ total revenue stands at $167.2 million, encompassing mining, engineering, and its new venture in data centers.
At the same time, the company recorded its first substantial earnings from data center services tied to infrastructure deployment agreements, alongside continued development at its Texas-based facilities and leadership adjustments overseeing these operations.
Riot Platforms’ earnings show early impact of data center segment
The Riot Platform’s earnings report indicates that the company’s data center division generated $33.2 million in revenue during the quarter.
The majority of revenue from the data centers came from services related to the facilities’ fit-out. According to Riot, such services involved purchasing and installing equipment tailored to the client’s needs, with reimbursement via cost-plus contracts.
Operating lease revenue contributed an additional $0.9 million during the same period. This revenue was largely linked to an agreement with Advanced Micro Devices, which expanded its presence at Riot’s Rockdale, Texas, facility.
During the quarter, AMD exercised an option to secure an additional 25 megawatts of capacity, bringing its total contracted load at the site to 50 megawatts. Riot confirmed that 5 megawatts of this capacity has been delivered and is already generating revenue, while the remainder is expected to come online in the second quarter.
Mining segment declines as network conditions shift
Despite growth in other areas, the Riot Platforms’ earnings figures show that bitcoin mining revenue fell year over year.
The firm’s total mining revenue stood at $111.9 million, down from $142.9 million in the quarter ending March 2025, due to falling average bitcoin prices and an increase in the Bitcoin network’s hash rate.
On the other hand, the cost of mining a bitcoin rose to $44,629, compared to the previous year’s figure of $43,808 in the same quarter. The increase in the cost of mining bitcoins is mainly due to a 24% rise in the network hash rate, while the firm’s power credits offset this to some extent.
Based on a bitcoin price of $68,222 at the end of March, the total value of these holdings was approximately $1.1 billion.
Engineering revenue and infrastructure build-out increase
Beyond mining and data center operations, Riot reported growth in its engineering segment. Engineering income for the quarter was recorded at $22.2 million, from $13.9 million in the equivalent quarter of 2025. This increase reflects expanded construction and infrastructure activity across the company’s facilities.
The company continues to develop its Rockdale site, where AMD’s infrastructure deployment is underway. At the same time, Riot is advancing construction at its Corsicana campus in Texas.
The Corsicana project includes multiple buildings designed to support both single-tenant and multi-tenant configurations, including workloads associated with artificial intelligence and hyperscale computing.
These developments align with the company’s ongoing build-out of large-scale infrastructure intended to support both mining and data center operations.
Leadership transition and liquidity position
During the quarter, Riot announced a leadership change within its data center division. Jonathan Gibbs, who previously served as Chief Data Center Officer, departed earlier in the month. The company appointed Adam Black to lead design and construction efforts. Black previously held roles at Google and TA Digital Group.
In terms of financial position, Riot ended the quarter with $282.5 million in cash, including $76.9 million in restricted cash.
Besides the company’s bitcoin stash, it also had assets worth more than $1.3 billion at the close of the quarter. Riot Platforms’ shares finished trading at $17.24 on Thursday, up 7.9%.
