RIOT Signs Landmark $9.1B Data Center Lease Amid Revenue Growth

Riot Platforms, Inc., which operates under the ticker RIOT, has announced a significant milestone in its business operations. The company has signed a $9.1 billion, 20-year AI data center lease that will boost its total contracted capacity to 241 MW.

The landmark deal is expected to generate substantial revenue for Riot Platforms over the next two decades. According to the company's latest update, Q2 revenue rose 14% year-over-year to $174.2 million.

However, the company's Bitcoin Mining revenue declined due to market conditions, which impacted its overall performance in the quarter. Despite this setback, Riot Platforms' Data Center and engineering segments experienced strong growth.