Riot Platforms reports Q3 revenue of $181 million, signs $28 billion AI data center lease agreement.

Riot Platforms reported Q3 2026 revenue of $181.4 million, up 1% year-over-year, with $116 million from Bitcoin mining, $18.4 million from data centers, and $47 million from engineering, while producing 1,637 BTC (up 16%) and holding $748.2 million in cash plus 2,418 BTC worth about $950.2 million as of September 30. The company signed a 15-year, 910 MW triple-net land lease with a leading Frontier AI Lab covering its entire Corsicana site, valued at roughly $28 billion initially (about $1.8 billion in average annual rent) and up to $54 billion if two five-year extension options are exercised. Combined with prior deals involving AMD and the same AI lab, Riot has contracted 1,151 MW of critical IT capacity and about $38 billion in long-term data center revenue. Riot said it does not expect to issue equity to fund announced projects, and it sold 20,264 BTC in the first nine months of 2026 for about $1.5 billion, mainly to build out data centers. The shift matters because Riot is increasingly monetizing its power and land as AI hosting infrastructure rather than relying solely on mining, so watch for lease execution and capacity delivery milestones.