Riot Platforms Q1 revenue rises, beating estimates

Riot Platforms

30/04/2026 21:08

Overview

U.S. bitcoin miner and data center operator's Q1 revenue rose, beating analyst expectations

Company reported first quarter of data center revenue at $33.2 mln

AMD exercised option to double contracted data center capacity to 50 MW

Outlook

Company did not provide specific financial guidance for future quarters or the full year

Result Drivers

DATA CENTER REVENUE - Co reported first quarter of data center revenue at $33.2 mln, driven by tenant fit-out services and operating lease income

BITCOIN MINING REVENUE DECLINE - Bitcoin mining revenue fell from prior year, primarily due to lower average bitcoin prices and increased global network hash rate, partially offset by higher operating hash rate

ENGINEERING REVENUE GROWTH - Engineering revenue increased to $22.2 mln from $13.9 mln in prior-year quarter

Company press release: ID:nGNXYF2Mq

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$167.20 mln
$130.79 mln (14 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

Wall Street's median 12-month price target for Riot Platforms Inc is $25.00, about 56.4% above its April 29 closing price of $15.98

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)