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Riot Platforms' data center revenue reached $33.2 million in the first quarter
Golden Finance reports that on May 1, based on financial report data released by Riot Platforms, the company recorded $33.2 million in data center revenue for the first quarter for the first time. Of this, most of the revenue came from tenant improvement services with lower profit margins—services under which customers procure and install specific equipment. Of note, AMD has chosen to exercise its option, doubling its contracted capacity from 25 MW to 50 MW, while still retaining the option to increase to 200 MW in the future. Currently, the 5 MW capacity related to the AMD deal has been delivered and generated revenue, and the remaining initial capacity is expected to come online in the second quarter. In addition, Riot Platforms’ total revenue for the first quarter was $1.67 2 hundred million, and its core Bitcoin mining business contributed $1.119 billion. The company currently holds 15,679 Bitcoins (worth approximately $1.2 billion), making it the seventh-largest publicly held Bitcoin holder in the world.