PANews May 1 news, according to The Block report, Riot Platforms announced its first quarter financial report for 2026 showing that the company achieved revenue of 33.2 million dollars from its data center business for the first time, accounting for about 20% of total revenue, marking a significant progress in its transformation from Bitcoin mining to AI, data center, and ultra-large-scale customer services.

The financial report shows that Riot's total revenue for the first quarter was 167.2 million dollars, with the core Bitcoin mining business contributing 111.9 million dollars, showing a decline year-on-year due to decreased Bitcoin output and lower average prices. The company sold 3,778 BTC during the quarter and currently holds 15,679 BTC, valued at nearly 1.2 billion dollars at current prices, making it the seventh largest publicly traded Bitcoin holder in the world.

The data center revenue primarily comes from a long-term leasing agreement with Advanced Micro Devices (AMD). AMD has chosen to add 25 megawatts of contracted capacity this quarter, expanding the total contracted capacity to 50 megawatts, while retaining the option to expand up to 200 megawatts in the future. Riot stated that the related deployments are progressing at the Rockdale campus in Texas, with the remaining initial capacity expected to go live and generate revenue in the second quarter.

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