Riot Reports $33M Data Center Revenue as AMD Doubles Capacity

Riot Platforms reported $33.2 million in debut data center revenue in the first quarter of 2026 and announced that Advanced Micro Devices elected to double its contracted capacity to 50 megawatts, according to the company’s earnings release on Thursday. The milestone marks a significant step in Riot’s diversification beyond bitcoin mining into AI, data center, and hyperscaler services.

Q1 Financial Results

Riot posted total revenue of $167.2 million for the quarter, with $111.9 million coming from its core bitcoin mining business, which declined year-over-year amid lower bitcoin production and lower average bitcoin prices. The company sold 3,778 BTC during the quarter but still holds 15,679 BTC worth nearly $1.2 billion at current prices, making it the seventh-largest public holder, according to Bitcoin Treasuries data.

The new data center revenue segment accounted for roughly 20% of total revenue, driven largely by Riot’s long-term lease agreement with AMD.

AMD Capacity Expansion

The chipmaker exercised an option during the quarter to expand its footprint by an additional 25 MW, bringing total contracted capacity to 50 MW. Further expansion options of up to 200 MW remain available under the agreement.

Riot delivered 5 MW of capacity tied to the AMD deal during the quarter and is already generating revenue. Much of the remaining initial capacity is expected to come online in Q2 2026.

Data Center Operations and Site Development

Most of the new data center revenue came from lower-margin “tenant fit-out services,” which Riot describes as the “procurement and installation of customer-specific equipment, reimbursed by the tenant on a cost-plus basis.”

Riot is expanding its flagship Rockdale, Texas site, where AMD’s deployment is underway, while continuing to build out its Corsicana campus, a multi-building project that executives said could support both single- and multi-tenant AI and hyperscaler customers.

Riot data center revenue. Source: Riot Platforms.

Riot’s prospective Corsicana site. Source: Riot Platforms.

Leadership Changes

Riot recently saw turnover in its data center leadership, with Chief Data Center Officer Jonathan Gibbs departing earlier this month. The company appointed veteran infrastructure executive Adam Black, a former executive at Google and TA Digital Group, to oversee design and construction.

Stock Performance

Shares of Riot Platforms (RIOT) closed at $17.24 on Thursday after a 7.9% gain on the day, according to The Block’s company data.

Riot Platforms (RIOT) stock price chart. Source: The Block/TradingView.