Key facts
- Riot Platforms sold 10,599 BTC in the third quarter of 2026, cutting holdings to 2,418 BTC from 11,380 BTC in June.
- Riot signed a 15-year AI infrastructure lease for 910 megawatts at its Corsicana, Texas campus, valued at about $28 billion.
- Riot has sold 20,264 BTC for about $1.5 billion since the start of 2026, the report said.
- Net income fell to $4.03 million from $104.5 million a year earlier, while total revenue rose 1% to $181.4 million.
- CEO Jason Les said the Corsicana lease is the largest in Riot's history, according to the report.
- Riot leased 1,151 megawatts of capacity, representing about $38 billion in long-term contracted revenue, the report said.
Riot Platforms sold 10,599 bitcoin in the third quarter of 2026, reducing its holdings from 11,380 BTC in June to 2,418 BTC in September, according to a company report dated November 4 and relayed by Bitcoin Magazine. The company also secured a 15-year lease for 910 megawatts of IT capacity at its Corsicana, Texas campus, valued at about $28 billion, the report said.
The sales exceeded Riot's mining output of 1,637 BTC in the quarter. Since the start of 2026, Riot has sold 20,264 BTC for about $1.5 billion, the report said. By the end of September it held $748.2 million in cash and $202 million in bitcoin assets.
Mining revenue fell nearly 28% to $116 million from $160.8 million a year earlier, while total revenue rose 1% to $181.4 million. Data center operations contributed $18.4 million and engineering contributed $47 million. Net income fell to $4.03 million from $104.5 million a year earlier. Riot's average bitcoin mining cost fell to $39,265 from $46,324.
CEO Jason Les described the Corsicana lease as the largest in Riot's history, the report said. It follows a $9.1 billion AI data center project at Rockdale for 191 megawatts over 20 years. With the new contract, Riot has leased 1,151 megawatts of capacity, representing about $38 billion in long-term contracted revenue, the report said. Those are payments expected during the lease term, not amounts already received.
The total estimated capital cost for the Corsicana project is $5.5 billion, with deliveries expected for construction in 2027 and 2028. Riot targets delivery of the initial 400 megawatts in September 2027, an additional 200 megawatts in January 2028, and the remaining 310 megawatts in July 2028. Riot does not currently expect to issue equity to fund the projects, the report said.
At the time of the report, RIOT stock was trading at $15.49, up 14% on Wednesday, extending a 18.41% gain on Tuesday following the $28 billion AI data center deal, the report said.
The earlier Bitcoin Magazine report also said Hut 8 sold 3,102 bitcoin to fund a $250 million share buyback, the companies' own disclosures as relayed by the report.