Riot Platforms Pivots to AI Data Centers with $9.8 Billion in Contracts

Key Facts

1Riot Platforms is shifting from a Bitcoin mining model to a data center landlord, leveraging 1.7 GW of approved power capacity in Texas.

2The company has secured $9.8 billion in contracted lease revenue through 2048 with major tenants including AMD.

Riot Platforms is shifting its business model from Bitcoin mining to becoming a data center landlord, leveraging 1.7 GW of approved power capacity in Texas. Seeking Alpha reported that the company has secured $9.8 billion in contracted lease revenue through 2048, with major tenants including AMD.

The strategic pivot aims to provide infrastructure for AI labs and high-performance computing, diversifying revenue streams away from the volatility of crypto mining. Regarding equity performance, RIOT closed at $19.61 on October 1, 2026, after reaching a day high of $20.25 and a low of $18.76 during the session.