Riot Platforms signed a 15-year lease for 910 megawatts of data-center capacity at its Corsicana, Texas, campus, committing to a deal valued at about $28 billion as it expands beyond Bitcoin (BTC) mining.
The powered-land agreement with a leading Frontier AI Lab carries average annual rent of about $1.8 billion. It lifts Riot’s total leased capacity to 1,151 megawatts and contracted data-center revenue to about $38 billion, including its AMD contract and a separate Rockdale lease with the same lab. Two five-year extension options could raise the Corsicana contract’s value to about $54 billion.
Riot posted third-quarter revenue of $181.4 million, up 1%. Data centers generated $18.4 million, engineering brought in $47 million and mining revenue was $116 million. BTC production reached 1,637, up 16%, while the average mining cost per coin, excluding depreciation, fell to $39,265 from $46,324 a year earlier.
Riot sold 20,264 BTC in the first nine months of 2026 for about $1.5 billion, primarily to finance data-center development. It ended September with $748 million in cash and 2,418 BTC valued at about $202 million.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].
