Riot Jumps on $28B AI Hosting Deal as Hut 8 Drops on Revenue Miss

Bitcoin miner Riot Platforms jumped more than 13% on Wednesday after unveiling what it described as its biggest step yet in building artificial intelligence infrastructure: a 15-year, $28 billion AI data center lease at its Corsicana, Texas site. The company framed the deal as a shift away from relying primarily on Bitcoin mining cash flow toward long-term contracted infrastructure revenue. Riot ’s plan also raises a familiar question for the sector—how quickly miners can translate mining-developed power and land assets into durable AI lease income—at a moment when peers are still working through the transition.