Riot shares surge on $28B AI lease as Hut 8 sinks on revenue miss
Bitcoin miner Riot sold BTC to finance its AI expansion, while Hut 8 reported falling revenue and rising costs before its major data center leases generate income. Shares of Bitcoin miner Riot Platforms surged more than 13% Wednesday after the company announced a $28 billion AI data center lease, its largest agreement to date as it accelerates its expansion into artificial intelligence infrastructure.