TREE NEWS update: Riot Platforms has signed a $28 billion AI lease covering its entire Corsicana campus, the bitcoin miner said. Riot has sold 20,264 BTC this year to help fund data centers, while mining still supplied about 64% of third-quarter revenue.
Riot Signs $28 Billion AI Lease for Entire Corsicana Campus
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AI take
The scale of this lease reframes Riot from a bitcoin miner into an AI data-center landlord, with mining still supplying roughly two-thirds of third-quarter revenue. Selling over 20,000 BTC this year to fund the buildout shows the pivot carries real balance-sheet cost, and it ties the company's fortunes to AI demand rather than hashprice. Whether mining's revenue share keeps shrinking as the lease ramps is the open question.
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