The second-largest publicly listed Bitcoin miner reported third-quarter revenue of $181.4 million, which surpassed the $161 million estimated by analysts. Riot Platforms also entered into a 15 year agreement with an unnamed Frontier AI lab for its Corsicana campus, providing 910 MW of critical IT capacity with an initial contract value of roughly $28B. The deal increases the firm’s total contracted capacity to 1,151 MW and its long-term contracted revenue to about $38B.
To finance its shift toward AI data center infrastructure, Riot sold 20,264 bitcoin during the first nine months of 2026, yielding about $1.5B in proceeds and allowing the firm to repay a $200 million credit line from Coinbase. This included the sale of 10,599 bitcoin in the third quarter, which reduced its total holdings to 2,418 from 11,380 at the end of June. Quarterly net income for the period was $4.03 million, down from $104 million a year earlier.