Riot Q1 Revenue Hits $167.2M; AMD Expands Data Center to 50MW
Riot Platforms reported Q1 revenue of $167.2 million, with its data center segment contributing $33.2 million as AMD doubled contracted capacity to 50 MW. Bitcoin mining revenue fell to $111.9 million from $142.9 million, while Riot finished the quarter holding 15,679 BTC worth $1.1 billion and $282.5 million cash.
1. Q1 Revenue Performance
Riot Platforms generated $167.2 million in Q1 revenue, up from prior quarters as its diversified business mix gains traction. The data center segment delivered $33.2 million in revenue, reflecting its new high-density computing focus.
2. Bitcoin Mining Results
Bitcoin mining accounted for $111.9 million of revenue, down from $142.9 million a year ago due to lower average BTC prices and higher network difficulty. Riot mined 1,473 BTC during the quarter, with an average cost per coin of $44,629 excluding depreciation.
3. Data Center Segment Expansion
AMD exercised an option for an additional 25 MW at Riot’s Rockdale site, bringing its total contracted capacity to 50 MW of critical IT load. This milestone marks the data center unit’s transition from development to active revenue generation.
4. Balance Sheet and BTC Holdings
At quarter-end, Riot held 15,679 BTC valued at approximately $1.1 billion and maintained $282.5 million in cash. The strong balance sheet underpins its strategy to leverage power assets for broader digital infrastructure services.