The recent sales point to the firm’s commitment to empowering artificial intelligence, according to VanEck Head of Digital Assets Matthew Sigel.
“In other words: one winter of BTC sales ≈ funding Phase 1 of the AI data-center pivot.”
That’s roughly the entire capex Riot has guided for the first 112 MW core/shell build at Corsicana, targeting completion in Q1 2027.
Dubbed a “power-first strategy,” the firm views BTC mining as a “tool to monetize Riot’s large-scale power portfolio in advance of data center development,” ultimately adding that it aims to fully convert its megawatts to data center use.
Riot is not alone in that transition. Other publicly traded Bitcoin miners are opening their business operations to include data center builds to help empower AI or cloud technologies.
Shares in RIOT finished the trading day up 1.3% and have jumped more than 23% in the last six months to change hands at $14.98. Bitcoin itself is up nearly 6% over the last week and recently traded hands at $92,773.
