- Riot Platforms shares are trending.
Riot Platforms Q2 Key Metrics
Riot reported second-quarter revenue of $174.20 million, beating analyst estimates of $152.06 million, according to Benzinga Pro. The company reported a second-quarter adjusted EBITDA loss of $69.73 million.
Riot Signs 20-Year Data Center Agreement
Subsequent to quarter’s end, Riot signed a 20-year data center lease with a “leading frontier AI lab” for 191 megawatts of capacity at the company’s Rockdale campus. The deal is expected to generate approximately $9.10 billion in total initial contract revenue.
“Today’s announcement of a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers,” said Jason Les, CEO of Riot. “It builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget.”
Riot ended the quarter with $548.90 million in cash and 11,380 Bitcoin.
RIOT Stock Rises After Earnings
RIOT Price Action: Riot shares were up 10.82% in Monday’s after-hours session, trading at $21.49 at the time of publication, according to Benzinga Pro.
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