Riot Liquidates 79% of Its Bitcoin Treasury for $28 Billion AI Infrastructure Deal
Bitcoin miner Riot Platforms has sold 10,599 BTC, or 79% of its treasury, to fund a 15-year, $28 billion agreement to lease power and sites for artificial intelligence infrastructure.
Riot Platforms has completed a historic financial transaction, selling 10,599 BTC to finance a massive expansion into the artificial intelligence sector.
The company, which operates in Texas, reduced its cryptocurrency reserves from 11,380 to 2,418 BTC, a move that reflects a broader industry trend of miners pivoting to high-margin computing.
The funds will be used to lease 910 MW of power and facilities at its Corsicana campus to the Frontier AI Lab, a strategic partner of Anthropic.
Strategic AI partnership
The 15-year agreement, valued at $28 billion, is structured as a triple-net lease, meaning the client purchases and maintains the computing equipment.
The initial annual rent is estimated at $1.8 billion, with total long-term revenue in the data center segment projected to reach $38 billion.
Riot’s total controlled capacity for these projects has grown to 1,151 MW.
Financial impact and future outlook
The sale of Bitcoin is part of a broader optimization of Riot’s balance sheet, which also included fully closing a $200 million credit line with Coinbase.
The company returned 5,821 BTC from collateral and ended the quarter with free liquidity of $950.2 million.
Despite a 28% drop in quarterly mining revenue to $116 million, total revenue held steady at $181.4 million, outpacing market forecasts.
Riot’s shares initially jumped to $16.20 after the announcement but stabilized around $15.45–$15.50.
The company’s remaining 2,418 BTC may be sold in the fourth quarter to further finance the Texas construction.
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