Situational Awareness LP raises Riot Platforms holdings to 11.5 million shares after Q1 revenue surges to $167.2 million.
Situational Awareness LP increased its stake in Riot Platforms Inc. (RIOT) by 86% in Q1 2026, now holding 11.5 million shares. The move follows Riot’s Q1 revenue of $167.2 million, beating consensus estimates by 36.7% and marking a shift in its business model.
Bitcoin mining contributed $111.9 million, while the firm’s data center segment generated $33.2 million. The fund had previously raised its position by 71% in Q4 2025, reflecting growing confidence in Riot’s dual-revenue strategy.
Leopold Aschenbrenner, a prominent investor, has highlighted Riot’s potential in AI compute power leasing, challenging bearish views of the company as a single-commodity miner.