Riot Platforms Inc.: Beat — EPS $0.01, Revenue $181.4M
Earnings BeatQ3 2026 · Pre-market
Did Riot Platforms Inc. (RIOT) beat earnings today?
Yes, Riot Platforms Inc. (RIOT) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+103.23% surprise
$0.01Actual
Expected: -$0.31
Total Revenue+13.21% surprise
$181.4MActual
Expected: $160.23M
vs. year ago +0.7%
Released Nov 04 · 8:11 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $181.40M | $180.20M | +0.7% |
| Revenue detail — reported lines | |||
| └─Data Center | $18.40M | - | - |
| └─Bitcoin Mining | $116.00M | $160.80M | -27.9% |
| └─Engineering | $47.00M | $19.10M | +146.1% |
| Net income (loss) | $4.03M | $104.48M | -96.1% |
Business Highlights
- ➤Signed a 15-year triple-net powered land lease for the entire Corsicana campus.
- ➤Corsicana lease covers 910 MW of critical IT capacity across a contiguous 332-acre parcel.
- ➤Corsicana delivery is scheduled in phases beginning September 2027 through July 2028.
- ➤Riot has contracted 1,151 MW of critical IT capacity across Corsicana, Rockdale and AMD arrangements.
- ➤Tenant will procure, own and operate modular compute deployment on Corsicana powered pads.
- ➤Riot will retain ownership and maintenance of high- and medium-voltage infrastructure.
- ➤Rent is payable on the full 910 MW regardless of utilization.
- ➤AMD’s stabilized 25 MW deployment completed its first full quarter.
- ➤Produced 1,637 bitcoin during the quarter.
- ➤Repaid and terminated the $200 million Coinbase credit facility.
- ➤Operates digital infrastructure and bitcoin mining facilities in Texas and Kentucky.
- ➤Operates engineering and fabrication facilities in Denver and Houston.
Management Commentary
Jason Les, CEO
“Today, we are excited to announce the largest lease in Riot’s history: a 15-year triple-net powered land lease with a leading Frontier AI Lab for the entirety of our Corsicana campus, representing 910 megawatts of critical IT capacity and approximately $28 billion of contracted revenue over the initial term. Together with our AMD contract and the lease signed with the same Frontier AI Lab at Rockdale earlier this year, Riot has contracted 1,151 megawatts and approximately $38 billion of data center revenue, which we expect will generate more than $2 billion of average annual net operating income at full deployment, firmly establishing Riot as a leading developer of large-scale digital infrastructure.”
Jason Les, CEO
“The structure of this new lease matters as much as the scale. With total capital costs of approximately $6 million per IT megawatt, the Corsicana development will require about half the capital of a Tier 3 build while significantly limiting procurement, development, and ongoing operational risk to Riot. That lower capital requirement, combined with our strong balance sheet, means that we do not currently anticipate issuing equity to fund our announced projects.”
Jason Les, CEO
“As these significant contracted cash flows come online, we will allocate our capital with discipline to whichever use creates the most value per share, whether that is our development pipeline or returning capital to shareholders.”