Riot just went full pivot mode.
Started 2026 with 18,005 $BTC. Now sitting on 2,418.
Where'd it go? Sold to chase AI infrastructure.
Today they leased their entire Corsicana campus to a frontier AI lab:
• 910 MW capacity
• 15-year lease
• ~$28B deal
Miners are literally dumping $BTC to become data center landlords. The AI play is real and it's cannibalizing hash power.
This is what capitulation looks like when another sector offers better risk-adjusted returns.
Started 2026 with 18,005 $BTC. Now sitting on 2,418.
Where'd it go? Sold to chase AI infrastructure.
Today they leased their entire Corsicana campus to a frontier AI lab:
• 910 MW capacity
• 15-year lease
• ~$28B deal
Miners are literally dumping $BTC to become data center landlords. The AI play is real and it's cannibalizing hash power.
This is what capitulation looks like when another sector offers better risk-adjusted returns.