Riot Platforms Details Q2 2026 Results, Providing Updates on 191 MW AI Lease and AMD Deployments
AI-generated image: synthetic visual, not an actual depiction of events, people, or locations.
Key Takeaways
- Riot Platforms is evolving into a diversified digital infrastructure and data center operator.
- The company is building out power capacity specifically for AI and high-performance computing applications.
- Core bitcoin mining activities continue using immersion cooling at facilities in Texas and Kentucky.
- Total outstanding common stock reached 375,258,935 shares as of early August 2026.
Riot Platforms (NASDAQ: RIOT), Inc. announced its second quarter 2026 financial results today, providing detailed updates on its massive expansion into artificial intelligence infrastructure at its Rockdale, Texas campus.
As previously disclosed subsequent to the quarter's end, Riot finalized a 20-year Data Center Lease and Services Agreement with a "leading frontier AI lab" for 191 megawatts (MW) of critical IT capacity. The Q2 report notes that this contract, running through June 2048, is expected to generate approximately $9.1 billion in total initial contract revenue. If the tenant exercises both of its five-year extension options, the total potential contract value climbs to approximately $16.1 billion.
This 191 MW lease establishes Riot's second major tenant at the Rockdale facility, following its lease with Advanced Micro Devices, Inc. (AMD) announced earlier this year on January 16, 2026. During the second quarter, Riot successfully completed the delivery of the initial 25 MW 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," said Jason Les, CEO of Riot. Les emphasized that Riot’s multi-gigawatt-scale power capacity, combined with its in-house data center development expertise, uniquely positions the company to convert market demand into compounding shareholder value.
