Riot Platforms, Inc. (NASDAQ: RIOT) shares raced higher Wednesday. The Colorado-based company, a vertically-integrated industry leader in digital infrastructure, specializing in the development and operation of large-scale data centers, reported financial results for the three-month period ended September 30, 2026.
“Today, we are excited to announce the largest lease in Riot’s history: a 15-year triple-net powered land lease with a leading Frontier AI Lab for the entirety of our Corsicana campus, representing 910 megawatts of critical IT capacity and approximately $28 billion of contracted revenue over the initial term,” said CEO Jason Les.
“Together with our AMD contract and the lease signed with the same Frontier AI Lab at Rockdale earlier this year, Riot has contracted 1,151 megawatts and approximately $38 billion of data center revenue, which we expect will generate more than $2 billion of average annual net operating income at full deployment, firmly establishing Riot as a leading developer of large-scale digital infrastructure.
“The structure of this new lease matters as much as the scale. With total capital costs of approximately $6 million per IT megawatt, the Corsicana development will require about half the capital of a Tier 3 build while significantly limiting procurement, development, and ongoing operational risk to Riot.”
RIOT shares acquired $2.02, or 14.4%, to $16.04.
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