Bitcoin Miner Riot Platforms Signs $9.8B AI Data Center Lease Deals

On August 20, according to Pulse2, Bitcoin miner Riot Platforms announced it has signed AI data center lease agreements with two major tech customers, covering 241MW of critical IT capacity, with total contract revenue expected to reach approximately $9.8 billion, driving the company's transition from a Bitcoin mining-focused business model to a major AI data center developer.

Riot Platforms also disclosed that its data center business revenue reached $23.2 million in Q2, while traditional Bitcoin mining revenue declined, with Bitcoin mining revenue dropping to $113.7 million in Q2. As of the end of Q2, Riot held over $1.2 billion in liquid assets, including 11,380 Bitcoin valued at approximately $666 million, along with $548.9 million in cash (including $77.5 million in restricted cash), providing financial support for its AI infrastructure expansion.

[TechFlow]