Riot Platforms Reports Third Quarter 2026 Financial Results and Strategic Highlights
Globe Newswire•04/11/2026•07:30 ET
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Key Highlights
- ➤Corsicana lease covers 910 IT MW, $28 billion contract value over 15 years
- ➤Riot now has 1,151 contracted IT MW and approximately $38 billion revenue
- ➤Third-quarter revenue $181.4 million, up 1% year-over-year
- ➤Bitcoin mining revenue fell to $116.0 million as prices declined
- ➤Engineering revenue rose to $47.0 million on strong data center demand
Expert Statements
Jason Les, CEO of Riot Platforms
“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.”
Jason Les, CEO of Riot Platforms
“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 of Riot Platforms
“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.”
Jason Les, CEO of Riot Platforms
“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 of Riot Platforms
“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.”
Executed a 15-year, 910 critical IT MW triple-net powered land lease with a leading Frontier AI Lab at Corsicana, representing approximately $28 billion in total contract value and approximately $1.8 billion in average annual rent over the initial term
Riot has now leased 1,151 MW of critical IT capacity, representing approximately $38 billion of long-term contracted revenue
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