Riot Platforms sold 20,264 bitcoin for approximately $1.5 billion in the first nine months of 2026, primarily to finance data center development. The Nasdaq-listed company disclosed the sales in its third-quarter results on November 4, highlighting how its digital-asset reserves are helping fund its expansion into AI infrastructure.
Riot also repaid and terminated its $200 million credit facility with Coinbase, releasing all pledged bitcoin. A separate SEC filing dates that repayment to September 21. Riot paid outstanding principal and accrued interest without early termination penalties, ending the lender’s commitment to provide further loans.
At September 30, Riot held 2,418 BTC valued at approximately $202 million and $748.2 million in cash, including $79.2 million of restricted cash. The combined $950.2 million balance therefore includes funds subject to restrictions. Riot said it had raised no equity during 2026.
The financing shift accompanies a new 15-year lease covering 910 megawatts of critical IT capacity at Corsicana with an unnamed leading AI lab. Riot puts the initial contract value at about $28 billion. Alongside its earlier Rockdale agreements, covered in our AI infrastructure coverage, it now reports roughly $38 billion of long-term contracted revenue.
Third-quarter revenue totaled $181.4 million, including $116 million from bitcoin mining and $18.4 million from data centers. These current revenues remain distinct from the much larger contracted totals, which extend over many years. Management does not currently expect to issue equity for announced projects, but that financing outlook remains a forecast.
