Riot posts $167.2M Q1 revenue; data centers add $33.2M

Riot Platforms reported $167.2 million in revenue for the first quarter of 2026. The company’s newly launched data center unit contributed $33.2 million, helping offset a decline in Bitcoin mining revenue.

Bitcoin mining revenue declined to $111.9 million from $142.9 million in Q1 2025. The company attributed the drop to lower average Bitcoin prices and a 24% increase in the global network hash rate. Riot produced 1,473 Bitcoin during the quarter, down from 1,530 a year earlier, and the average cost to mine one coin rose to $44,629 from $43,808.

Engineering revenue tied to infrastructure services rose to $22.2 million, up from $13.9 million a year earlier. Riot reported that AMD exercised an option to double its contracted capacity to 50 megawatts from an initial 25 megawatts.

At March 31, Riot held 15,679 Bitcoin, valued at about $1.1 billion using a price of $68,222 per coin, with 5,802 coins held as collateral. The company reported $282.5 million in cash, including $76.9 million that is restricted, and reported sales of more than $250 million worth of Bitcoin during the quarter.

Riot’s shares closed up 7.31% at $18.50 on Friday and traded at $18.40 in after-hours trading, a decline of 0.57%.

In a statement, CEO Jason Les called the first quarter of 2026 “a definitive inflection point” as Riot began operating revenue-generating data centers. The company said AMD’s expansion of its contracted capacity validated its ability to run infrastructure at an institutional scale.

The quarter reflects a broader industry trend of miners adding data center and AI infrastructure as mining margins tighten. Several operators are repurposing or investing in data centers to generate third-party revenue while maintaining mining operations.