Riot Platforms Inc (NASDAQ:RIOT) reported financial results for the first quarter after the market close on Thursday. Here’s what you need to know from the report.
- Riot Platforms stock is trading in a tight range. Where is RIOT stock headed?
Riot Platforms Reports Mixed Q1
Riot reported first-quarter revenue of $167.20 million, beating analyst estimates of $130.79 million. The company reported a first-quarter loss of $1.44 per share, missing estimates for a loss of 44 cents per share, according to Benzinga Pro.
Riot said it mined 1,473 Bitcoin (CRYPTO: BTC) in the quarter, down from 1,530 year-over-year. The average cost to mine Bitcoin in the first quarter was $44,629.
Riot also generated data center revenue for the first time, reporting $33.2 million for the segment as the company continues to shift its focus from Bitcoin mining to AI infrastructure.
“The first quarter of 2026 marks a definitive inflection point for Riot, as we officially transitioned into an active, revenue-generating data center operator,” said Jason Les, CEO of Riot.
“Our ongoing delivery of initial capacity to AMD, and their decision to already double their footprint with a 25 megawatt expansion, validates our ability to execute at institutional scale with the most demanding tenants.”
Riot ended the quarter with $282.5 million in cash on hand and 15,679 Bitcoin in reserve.
RIOT Shares Creep Higher After The Close
RIOT Price Action: Riot shares were up 0.70% in Thursday's after-hours session, trading at $17.35 at the time of publication, according to Benzinga Pro.
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