Riot Platforms reports Q2 2026 financial results beating estimates and announces the strategic Rockdale AI data center lease.
Riot Platforms, Inc. (NASDAQ: RIOT), a vertically-integrated digital infrastructure leader specializing in large-scale data center development and bitcoin mining, reported financial results for the second quarter ended June 30, 2026. Quarterly revenue reached $174.2 million, a 14% year-over-year increase, including $23.2 million in data center revenue.
The company announced a landmark 20-year data center lease with one of the world's leading frontier AI laboratories for 191 megawatts of critical IT capacity at Riot's Rockdale campus. The lease, with an initial term running through June 2048, is expected to generate approximately $9.1 billion in total contract revenue. The agreement includes two five-year extension options at the tenant's election, representing a total potential contract value of approximately $16.1 billion if both extensions are fully exercised.
Jason Les, CEO of Riot, stated: "Today's announcement of a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers. It builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget. In just over six months, Riot has now executed leases totaling 241 megawatts of capacity, representing approximately $9.8 billion of long-term, contracted revenue with two of the most important companies in the AI ecosystem. Our platform stands apart through three elements working together: multi-gigawatt-scale power capacity that is already fully approved and energized, in-house data center development expertise, and the ability to engineer custom infrastructure for computing's most demanding workloads. With all three, and the financial resources to deploy them already secured, we are positioned to convert strong market demand from high-quality tenants into compounding shareholder value."
During the second quarter, Riot completed delivery of the final 20 megawatts of Advanced Micro Devices' initial deployment, bringing the full 25 megawatts of commissioned capacity online on time and on budget. Construction is now underway on AMD's 25 megawatt expansion, with the 10 megawatt Phase 3 on track for delivery in November 2026 and the 15 megawatt Phase 4 to follow in May 2027, at which point AMD's total contracted capacity of 50 megawatts will be fully deployed.
The new frontier AI lab lease secures Riot's second major tenant at the Rockdale campus, establishing the company as a leading contracted AI data center developer. Together with the AMD agreement announced on January 16, 2026, the two leases firmly demonstrate Riot's capability to deliver critical infrastructure at scale to leading companies in the AI ecosystem.
Riot will host a conference call on August 10, 2026 at 4:30 p.m. ET to discuss its financial results. The call will be available through audio-only webcast at https://edge.media-server.com/mmc/p/xk5hszcg. Participants may dial in toll-free at +1 (800) 715-9871 or internationally at +1 (646) 307-1963, using passcode 3868069.
Riot Platforms operates digital infrastructure and bitcoin mining facilities in central Texas and Kentucky, with engineering and fabrication facilities in Denver and Houston. The company's vision is to be the world's most trusted platform for powering and building the next digital world.