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Riot Q1 Earnings Report: Bitcoin Pressure and AI Data Center Growth
CryptoWorld News reports that Riot Platforms announced that revenue for the first quarter of 2026 was $167.2 million, up from $161.4 million in the same period last year. The company mined 1,473 bitcoins this quarter, down from 1,530 in Q1 2025. Riot also recorded its first data center revenue, reaching $33.2 million, including $900k in operational lease income and $32.2 million in tenant renovation services income. CEO Jason Les stated that this quarter marked Riot’s transition to a profitable data center operator. Riot’s Bitcoin mining revenue decreased from $142.9 million last year to $111.9 million, mainly due to falling Bitcoin prices and rising global network hash rate. Riot sold 3,778 bitcoins in the first quarter, totaling $289.5 million in sales. Riot currently holds 15,679 bitcoins, with 5,802 pledged as collateral, and the total Bitcoin holdings are valued at approximately $1.1 billion.