Riot's Data Center Revenue Surges as AMD Doubles Capacity
Riot Platforms reported its first quarter data center revenue of $33.2 million, which accounted for around 20% of total revenue. The company's top-line figure was $167.2 million, with Bitcoin mining contributing $111.9 million to the total. However, this is a decline from last year due to lower Bitcoin production and prices.
The data center segment's growth is largely attributed to Riot's lease agreement with AMD, which doubled its contracted capacity to 50 megawatts during the quarter. This expansion is expected to continue in the second quarter, with 5 MW already generating revenue at the end of the period.
Riot also holds 15,679 Bitcoin, worth approximately $1.2 billion at current prices, making it one of the largest public holders of the asset. The company is expanding its Rockdale, Texas site and continuing construction at its Corsicana campus, which could support both single- and multi-tenant AI and hyperscaler customers.