Riot Platforms sells 10,599 BTC in Q3 to fund AI infrastructure expansion
U.S. Bitcoin mining company Riot Platforms reduced its Bitcoin reserves by nearly 79% in the third quarter of 2026. The cryptocurrency sales were part of its strategy to finance data centers for artificial intelligence.
According to a filing, Riot sold 10,599 BTC between July and September, reducing its holdings from 11,380 BTC at the end of June to 2,418 BTC at the end of September. Over the first nine months of the year, the company sold a total of 20,264 BTC for approximately $1.5 billion.
Most of the proceeds were allocated to data center construction. Meanwhile, Riot is expanding its long-term contracts with AI developers, gradually diversifying its business beyond Bitcoin mining.
Riot's financial results and Bitcoin sales
The company's third-quarter revenue reached $181 million, up 1% from the same period last year. However, net income fell from $104 million to $4.03 million.
Revenue from Bitcoin mining declined approximately 28% to $116 million. The mining business therefore remained under pressure despite relatively stable overall revenue.
Reducing its cryptocurrency reserves allowed Riot to raise capital for infrastructure projects without relying entirely on external financing. The company retained 2,418 BTC on its balance sheet.
Riot secures $28 billion AI contract
The company signed a 15-year data center lease agreement with a major artificial intelligence laboratory, whose name has not been disclosed. The contract covers 910 MW of IT capacity and has an estimated initial value of approximately $28 billion.
Including the new agreement, Riot has secured contracts for 1,151 MW of computing capacity. The combined value of its long-term contracts has reached approximately $38 billion.
In August 2026, the company also signed a $9 billion agreement with Anthropic. The project involves providing 191 MW of capacity at Riot's facility in Rockdale, Texas.
The deal reflects a broader shift among Bitcoin mining companies toward AI infrastructure services. Access to power capacity and existing facilities allows miners to enter the computing services market while maintaining some cryptocurrency mining operations.
Earlier, we reported that Bitcoin miners faced higher financing costs for AI projects amid stricter lender requirements. Banks and other investors have become
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