Riot Platforms Inc
riotplatforms.comRiot Platforms (NASDAQ: RIOT) is a digital infrastructure company that operates large-scale bitcoin mining facilities and is transitioning toward diversified data center services. Revenue comes primarily from bitcoin mined at its facilities in Texas and Kentucky, with a secondary Engineering segment, and the company is pursuing data center tenancy revenue as an additional stream. Riot owns and operates three data center facilities: the Rockdale Facility in Rockdale, Texas (700 MW of developed capacity), the Corsicana Facility in Navarro County, Texas (400 MW developed, targeting approximately 1 GW upon completion), and the Kentucky Facility acquired via the Block Mining acquisition in 2024 (approximately 137 MW of developed capacity). Through December 31, 2025, Riot executed purchase orders under a long-term supply agreement with MicroBT for miners totaling 49.2 EH/s of hash rate at a combined purchase price of approximately $779.5 million. The company operates in two reportable segments: Bitcoin Mining and Engineering, per its 10-K filed March 2, 2026.
Products & Services
Large-scale bitcoin mining operations using immersion-cooled hardware; data center infrastructure including high-voltage substations and transmission facilities; Engineering segment services; development of data center capacity for potential AI and HPC tenants.
Revenue Model
Riot generates revenue by mining bitcoin at its owned data center facilities and selling mined bitcoin. A secondary Engineering segment provides additional revenue. The company is in early stages of pursuing third-party data center tenancy revenue, targeting AI and high-performance computing customers.
Customers & Markets
Bitcoin network participants (mining rewards as primary revenue driver). Prospective data center tenants in AI and high-performance computing markets are a targeted but early-stage end market, per the 10-K filed March 2, 2026.
Geographic Exposure
Operations concentrated in the United States: Rockdale, Texas; Navarro County (Corsicana), Texas; and two sites in Kentucky acquired via the Block Mining acquisition in 2024.
Financial Snapshot
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