Riot Platforms posted $167.2 million in revenue for the first quarter of 2026, with its newly launched data centre business contributing $33.2 million.
The data centre revenue helped offset a decline in Riot’s core Bitcoin mining business, which fell to $111.9 million from $142.9 million in Q1 2025, 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.
Riot ended the quarter holding 15,679 Bitcoin, valued at roughly $1.1 billion based on a March 31 price of $68,222, with 5,802 coins held as collateral.
The company maintained $282.5 million in cash, of which $76.9 million is restricted. Riot also said it sold more than $250 million worth of Bitcoin during the quarter.
Meanwhile, engineering revenue, which covers infrastructure services, rose to $22.2 million from $13.9 million year-over-year, adding another layer of diversification to the company’s revenue mix.
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