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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Riot Platforms
Riot Platforms (RIOT) investor relations material
Riot Platforms Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Nov, 2026
Executive summary
Signed a 15-year triple-net powered-land lease with Anthropic for Corsicana’s full 910 MW campus, worth $28B over the initial term; combined leases cover 1,151 MW and ~$38B in contracted data-center revenue.
At full deployment, the leased portfolio is projected to generate ~$2.2B in average annual NOI and $2.3B in annual lease revenue; all contracted capacity is expected online by mid-2028.
Strategic focus is shifting toward AI/HPC data-center leasing, supported by bitcoin sales and engineering capabilities; priorities include delivery and project financing.
Financial highlights
Q3 revenue was $181.4M versus $180.2M YoY; data-center and engineering growth offset lower Bitcoin Mining revenue.
Q3 net income was $4.0M versus $104.5M; diluted EPS was $0.01 versus $0.30, and Adjusted EBITDA was $191.3M versus $197.2M.
9M revenue was $522.9M versus $494.6M; net loss was $733.6M versus net income of $27.6M, and Adjusted EBITDA was a loss of $189.9M versus $516.1M.
Quarter-end liquidity was $950.2M, including $748.2M cash and 2,418 bitcoin valued at $202M.
Outlook and guidance
Lease revenue is projected at $23M in 2026, $250M in 2027, $1.8B in 2028 and $2.3B in 2029, when contracted phases are expected to be in service.
Corsicana’s 910 MW is scheduled in phases: 400 MW in September 2027, 200 MW in January 2028 and 310 MW in July 2028; rent begins no later than 60 days after each phase delivery.
Rockdale’s 191 MW AI-lab deployment is scheduled as 96 MW by December 2027 and 95 MW by June 2028; AMD’s full 50 MW is expected online in May 2027.
Corsicana’s initial lease term is 15 years, with two five-year extension options; the project is estimated at ~$6M per IT MW and a ~33% unlevered yield on cost.
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Latest events from Riot Platforms
- $9.1B AI lease, AMD expansion, and 14% revenue growth; $237.2M net loss, $1.2B liquidity.RIOT
Q2 2026 - All proposals passed, including director elections and equity plan amendment; no Q&A questions.RIOTAGM 2026
- Virtual annual meeting to vote on directors, auditor, compensation, and equity plan amendment.RIOTProxy filing
- Shareholders will vote on director elections, auditor ratification, say-on-pay, and a major equity plan amendment.RIOTProxy filing
- Q1 2026 revenue hit $167.2M as data center growth, AMD expansion, and new executive terms took effect.RIOTQ1 2026
- Record $647.4M revenue, AMD lease, and data center expansion drive 2026 growth.RIOTQ4 2025
- Secured Rockdale site and $311M AMD lease, unlocking 700 MW for scalable data center growth.RIOTStatus update
- Revenue up 63–65% to $84.8M, but net loss widened as costs and margins fell.RIOTQ3 2024
- Q2 2024 net loss of $84.4M; hash rate and capacity guidance raised after Block Mining deal.RIOTQ2 2024
Next Riot Platforms earnings date
Q4 202624 Feb, 2027
Riot Platforms
Next Riot Platforms earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Riot Platforms Inc (formerly Riot Blockchain, Inc.,) focuses on cryptocurrency mining operation in North America. The company owns the Suprnova Pool, which offers users to mine cryptocurrencies; and operates an ethereum mine. It is also involved in the development of a blockchain-based ecosystem that provides financial services for institutions and individuals focused on facilitating transfers of assets over a blockchain, as well as the development of applications for use on a blockchain.