Bitcoin miner Riot Platforms achieved a strategic milestone in the first quarter of 2026.ReportData center revenue reached $33.2 million—the company’s first revenue from AI infrastructure hosting.
Riot CEO Jason Les stated that it is “a defining turning point for Riot as we formally transition into an active, revenue-generating data center operator.”
Riot Games (ticker: RIOT) rose nearly 9% today, with its latest trading price at $18.74. Over the past 30 days, the company's stock has accumulated a gain of over 49%.Yahoo Finance.
The activation of the data center helps alleviate pressure on Riot's traditional business. Bitcoin Mining revenue decreased from $142.9 million in the same period last year to $111.9 million, due to a decline in the average price of Bitcoin and an increase in global network hash rate.
Riot Games stated that the company mined 1,473 bitcoins this quarter, down from 1,530 in the first quarter of 2025, with the average mining cost per bitcoin, excluding depreciation, rising from $43,808 to $44,629.Early AprilThe company sold bitcoins worth over $250 million this quarter.
Engineering revenue (including infrastructure services) increased year-over-year to $22.2 million, up from $13.9 million in the same period last year. Riot holds 15,679 bitcoins, with a value of approximately $1.1 billion based on the quarter-end price of $68,222, of which 5,802 are used as collateral. The company holds $282.5 million in cash, of which $76.9 million remains restricted.
Riot's infrastructure capabilities were enhanced this quarter as technology giant AMD exercised its option to double the contracted capacity to a total of 50 megawatts.
“We are consistently delivering initial capacity to AMD, and their decision to double their operations by expanding by 25 megawatts demonstrates our ability to provide institutional-grade services to the most demanding tenants,” said Rice. “We currently have a formal 50-megawatt contract with AMD and are rapidly capturing value creation opportunities from our large, fully approved power portfolio.”
He added, "We have ample power supply, in-house development expertise, and strong financial resources to fully capitalize on robust market demand, attract high-quality tenants, and drive sustained shareholder value growth."
This quarter’s performance indicates that Riot Games’ strategic transformation is progressing, with its business focus shifting from pure Bitcoin mining to a hybrid model serving both cryptocurrency and artificial intelligence workloads. AMD’s expansion also reflects growing market demand for Riot Games’ diversified strategy, as Bitcoin miners seek stable revenue sources beyond the volatile cryptocurrency market.