Riot Taps its Bitcoin Treasury To Fund Data Center Expansion

Riot Platforms (NASDAQ: RIOT) has sold 4,300 $BTC from its treasury to finance day-to-day operations and accelerate its push into large-scale data center infrastructure, according to the company's second quarter 2026 financial results.

Treasury Reduction and Mining Output

The sale brought Riot's total holdings down from 15,680 to 11,380 $BTC. Of those remaining holdings, 5,821 BTC are held as collateral, with the full Bitcoin position valued at approximately $666 million based on a closing price of $58,527 on June 30, 2026.

During the quarter, Riot produced 1,587 $BTC at an average cost of $49,912 per coin, excluding depreciation, an increase driven primarily by higher power costs and expansion at its Kentucky facilities. The company continues to sell a portion of its monthly Bitcoin production to support operations and fund the equity component of its data center capital expenditures.

A Broader Pivot Toward AI Infrastructure

Riot's Q2 report also announced a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab, alongside data center revenue of $23.2 million for the quarter, which included the completed delivery of the initial 25 MW to AMD.

The AI lab deal is expected to generate approximately $9.1 billion in total contract revenue, rising to $16.1 billion if two five-year extension options are exercised. Combined with the existing AMD lease, Riot now holds $9.8 billion in contracted data center revenue.

Total revenue for the quarter reached $174.2 million, a 14% increase year-over-year. However, a GAAP net loss of $237 million was recorded, weighed down by over $240 million in non-cash charges including a $75 million mark-to-market loss on Bitcoin holdings and $98 million in depreciation. CFO Jason Chung stressed that these figures do not reflect the company's underlying operations, which are rapidly pivoting toward high-margin, recurring lease income.

Sources:
Riot Platforms Q2 2026 Financial Results (GlobeNewswire)
Riot Platforms Official Q2 2026 Press Release