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AI brief of an SEC Form 8-K · Riot Platforms, Inc. (RIOT)

Riot Platforms signs 15-year, $28 billion Corsicana lease; Q3 revenue rises 1%

Mixed Impact 4 of 5 product/contract Written later

Riot Platforms signed a 15-year triple-net powered land lease with a Frontier AI Lab for its entire Corsicana campus, covering 910 MW of critical IT capacity and about $28 billion of total contract value. For the quarter ended September 30, 2026, revenue rose 1% to $181.4 million, but net income fell to $4.0 million from $104.5 million a year earlier, and bitcoin mining revenue declined.

Key points

  • Corsicana lease: 910 MW of critical IT capacity, about $28 billion total contract value, about $1.8 billion average annual rent, first 400 MW phase due September 2027
  • Q3 2026 revenue $181.4 million vs $180.2 million; net income $4.0 million vs $104.5 million; Adjusted EBITDA $191.3 million vs $197.2 million
  • Bitcoin Mining revenue $116.0 million vs $160.8 million; cash and bitcoin totaled $950.2 million at September 30, 2026
  • NYDIG custodial agreement terminated October 29, 2026 after bitcoin moved to BitGo Bank & Trust, with no early termination penalties

The filing

CompanyRiot Platforms, Inc. (RIOT)
Form8-K, current report
Filed with the SECNov 4, 2026, 7:30 AM ET
Accession number0001104659-26-122368

Items reported: 1.02 Termination of Material Agreement2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.