Riot Platforms Reports First Quarter Data Center Revenue

Riot Platforms has announced its first-quarter financial results, revealing a data center revenue of $33.2 million. According to Odaily, the majority of this revenue came from tenant transformation services, which involve procuring and installing specific equipment for clients. Notably, AMD has exercised its option to double its contract capacity from 25 MW to 50 MW, with the potential to increase to 200 MW in the future. Currently, 5 MW of capacity related to the AMD deal has been delivered and is generating revenue, with the remaining initial capacity expected to be operational in the second quarter. Riot Platforms' total revenue for the first quarter was $167.2 million, with its core Bitcoin mining business contributing $111.9 million. The company holds 15,679 Bitcoins, making it the seventh-largest public holder of Bitcoin globally.