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Riot Platforms' data center revenue in the first quarter reached $33.2 million, with AMD contract capacity doubling
Odaily Planet Daily News reports that, according to the financial report data released by Riot Platforms, the company recorded $33.2 million in data center revenue for its first quarter. Of that, most of the revenue came from tenant improvement services with lower profit margins—namely, purchasing and installing specific equipment for customers. Notably, AMD has chosen to exercise its option, doubling its contracted capacity from 25 MW to 50 MW, and it still retains the option to increase it to 200 MW in the future. At present, the 5 MW of capacity related to the AMD deal has been delivered and has generated revenue, and the remaining initial capacity is expected to go live in the second quarter. In addition, Riot Platforms’ total revenue for the first quarter was $1.672 billion, with its core Bitcoin mining business contributing $111.9 million. The company currently holds 15,679 Bitcoins (worth about 1.2 billion dollars), making it the world’s seventh-largest publicly held Bitcoin holder. (The Block)