Shares of bitcoin miner Riot jumped after the company announced a $28 billion lease tied to artificial intelligence. Shares of fellow miner Hut 8 fell after it reported revenue below expectations. Cointelegraph reported both moves on Nov 4, 2026.
Riot paid for its AI expansion partly by selling some of its bitcoin. The report does not say how much BTC Riot sold or when it sold it.
Hut 8 said its revenue went down and its costs went up. The company has signed large data center leases, but those leases are not producing income yet. The report does not say when that income is expected to start.
Both companies are moving from bitcoin mining toward AI data centers. On this day, investors rewarded the company with a signed lease and punished the one whose numbers fell before its leases started paying.
Source: cointelegraph — Riot shares surge on $28B AI lease as Hut 8 sinks on revenue miss
Price today: Bitcoin