Bitcoin mining firm Riot Platforms has released its first-quarter 2026 financial results, achieving a milestone in its data center segment. The company reported $33.2 million in data center revenue, primarily from low-margin tenant build-out services for high-performance computing clients. This marks the first time Riot has reached such a revenue level in this line of business.
AMD Expansion: Capacity Doubled to 50 MW
Chipmaker AMD has exercised its option to double the contracted capacity from the initial 25 megawatts (MW) to 50 MW, with the potential to further expand to 200 MW in the future. Currently, 5 MW of this capacity is operational and already generating revenue, while the remaining capacity is expected to come online during the second quarter of 2026.
Overall Revenue and Bitcoin Mining
Riot Platforms reported total revenue of $167.2 million for Q1 2026, of which $111.9 million came from its Bitcoin mining operations. The company holds 15,679 Bitcoin, valued at approximately $1.2 billion, making it the seventh-largest public holder of Bitcoin globally.
The addition of AMD's expanded capacity underscores Riot's strategic shift toward diversifying revenue streams beyond pure mining. By repurposing existing infrastructure for high-performance computing (HPC) and AI workloads, Riot aims to improve capital efficiency while maintaining a significant Bitcoin mining footprint.
Industry observers note that the combination of mining and data center services could provide Riot with a more resilient business model, as AMD's commitment validates the value of crypto mining infrastructure as a flexible compute platform.