While mining revenue declined year-over-year, Riot sold 3,778 BTC and kept 15,679 BTC worth $1.2 billion. The company has already delivered 5 MW under its AMD deal, with further capacity expected in Q2, alongside ongoing expansion in Texas. Riot’s AI Shift Pays Off Riot Platforms is beginning to show tangible progress in its shift beyond Bitcoin mining. The company reported $33.2 million in data center revenue for the first quarter—its first meaningful contribution from the segment. Riot Platforms data center revenue This development comes as the company deepens its relationship with Advanced Micro Devices (AMD), which elected to double its contracted capacity with Riot to 50 megawatts during the quarter. The company generated total revenue of $167.2 million in the quarter, with $111.9 million still coming from its core Bitcoin mining operations. However, that segment declined year-over-year due to weaker Bitcoin production and lower average prices. Riot sold 3,778 BTC during the period but still holds a large reserve of 15,680 BTC, valued at close to $1.2 billion at current market prices. This makes it one of the largest public holders of the asset. Top Bitcoin treasury companies (Source: BitcoinTreasuries.NET) The newly established data center segment accounted for roughly 20% of total revenue, largely driven by Riot’s long-term lease agreement with AMD. Much of this revenue came from lower-margin tenant fit-out services, where Riot facilitates the procurement and installation of specialized equipment on a cost-plus basis. While not highly profitable in isolation, this activity reflects early-stage infrastructure buildout and lays the groundwork for higher-margin recurring revenue streams as capacity comes online. Operationally, Riot already delivered 5 MW of capacity tied to the AMD agreement, with the remainder expected to ramp up through the second quarter. Expansion efforts are also ongoing at its Rockdale, Texas facility, while the Corsicana campus is growing into a large-scale site capable of supporting multiple AI and hyperscale tenants. Leadership changes in the data center division, including the appointment of former Google and TA Digital executive Adam Black, suggest the Riot is very much focused on expanding this area even more. RIOT’s price action over the past 24 hours (Source: Google Finance) Investor sentiment seems to be responding positively to these developments. Over the past 24 hours, Riot’s share price climbed approximately 7.9% to $17.24. The upward movement reflects optimism around Riot’s diversification strategy and its positioning in the growing AI infrastructure market.
