Riot Platforms Reports $181M Q3 Revenue, Signs $28B AI Data Center Lease Agreement

On November 4, according to Riot Platforms' Q3 2026 earnings report, the company's total quarterly revenue was $181.4 million, up 1% year-over-year. Among this, data center revenue was $18.4 million, Bitcoin mining revenue was $116 million, and engineering business revenue was $47 million; the company produced 1,637 BTC during the quarter, up 16% year-over-year. Adjusted EBITDA was $191.3 million. As of September 30, the company held approximately $748.2 million in cash and 2,418 BTC, totaling roughly $950.2 million.

In business operations, Riot signed a 15-year, 910 MW critical IT capacity triple-net power supply land lease agreement with a leading Frontier AI Lab, covering all sites at its Corsicana campus. The initial total contract value is approximately $28 billion, with an average annual rent of about $1.8 billion. The agreement includes two five-year extension options, bringing the total contract value to approximately $54 billion if fully exercised.

Building on previously signed agreements with AMD and the same Frontier AI Lab, Riot has now contracted 1,151 MW of critical IT capacity, with long-term data center contract revenues totaling approximately $38 billion. The company stated that it does not currently expect to finance announced projects through equity issuances. During the first nine months of 2026, the company sold 20,264 BTC, raising approximately $1.5 billion, primarily for data center construction.