The bitcoin miner is turning its Corsicana campus in Texas into AI infrastructure. In its third quarter 2026 results, Riot disclosed a 15-year triple-net powered land lease with an unnamed frontier AI lab covering the full site, 910 MW of critical IT capacity.

The deal is worth about $28 billion over the initial term, or roughly $1.8 billion in average annual rent, and up to about $54 billion if both five-year extensions are exercised. Capacity will be delivered in three phases between September 2027 and July 2028. Riot now has 1,151 MW leased and about $38 billion of contracted data center revenue.

Riot sold 20,264 BTC in the first nine months of 2026 for about $1.5 billion, mainly to fund data center development, leaving 2,418 BTC on its balance sheet.

Quarterly revenue came in at $181.4 million. Bitcoin mining revenue fell to $116.0 million from $160.8 million a year earlier on a lower average BTC price, even as production rose 16% to 1,637 BTC. The company also repaid and terminated its $200 million Coinbase credit facility.