Riot Platforms shifts focus to maximizing value of megawatts over Bitcoin mining, despite record Q3 revenue of $180.2 million, up 112.5% from last year, and net income of $104.5 million. The firm mined 1,406 BTC in Q3, totaling 19,287 BTC worth over $2.1 billion. 90% of revenue came from Bitcoin mining.

Riot Platforms plans to use Bitcoin mining profits to support data center development. The firm started diversifying earlier this year, focusing on AI infrastructure. 112 megawatts of IT data center capacity are being developed at Corsicana Data campus, with plans to expand to a 1 gigawatt utility-load data center campus.

CEO Jason Les aims to utilize all megawatts for value creation, leaving no unused power at Corsicana. The goal is to build a one-gigawatt utility-load data center campus on the site. Riot Platforms continues to focus on Bitcoin mining while expanding its data center business.

Read more at Cointelegraph: Riot Platforms Sees Record Q3 Revenue But Says Data Centers Is Endgame