Riot Platforms generated $167.2 million in Q1 2026 revenue, with its new data center segment contributing $33.2 million. This diversification helped offset a decline in its core Bitcoin mining revenue, which fell to $111.9 million. The company ended the quarter holding 15,679 Bitcoin, valued at approximately $1.1 billion.
Riot Platforms posted $167.2 million in revenue for the first quarter of 2026, with its newly launched data center business contributing $33.2 million. This revenue helped offset a decline in the company’s core Bitcoin mining business, which fell to $111.9 million from $142.9 million in Q1 2025.
The mining decline was driven by lower average Bitcoin prices and a 24% rise in the global network hash rate. Riot produced 1,473 Bitcoin during the quarter, down from 1,530 a year earlier, while the average cost to mine one coin increased to $44,629 from $43,808, according to an announcement.
“The first quarter of 2026 marks a definitive inflection point for Riot, as we officially transitioned into an active, revenue-generating data center operator,” CEO Jason Les said. He added that AMD’s decision to double its contracted capacity to 50 megawatts validated the company’s ability to execute at institutional scale.
Riot ended the quarter holding 15,679 Bitcoin, valued at roughly $1.1 billion based on a March 31 price of $68,222. The company sold more than $250 million worth of Bitcoin during the quarter and maintained $282.5 million in cash.
Engineering revenue, which covers infrastructure services, rose to $22.2 million from $13.9 million year-over-year. Bitcoin miners are increasingly shifting toward AI infrastructure as tightening mining margins push the industry to seek more stable revenue streams.
