Riot Platforms has signed a 20-year lease agreement for 191 megawatts at its Rockdale campus in Texas, generating 9.1 billion dollars in contracted revenue and potentially up to 16.1 billion dollars with extension options. This transaction marks a major strategic pivot for the company, converting its energy capacity into computing infrastructure for artificial intelligence, with deployment scheduled between December 2027 and June 2028. Second quarter 2026 revenue reached 174.2 million dollars, up 14 percent year-over-year, but a net loss of 237.2 million dollars was recorded due to rising electricity costs and increased Bitcoin network hash rate, bringing the cost of production per unit mined to 49,912 dollars. The company produced 1,587 bitcoins during the quarter and has secured 241 megawatts of contracted capacity in total, including 50 megawatts already secured with AMD in January 2026.
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