Riot rallies on $28B AI lease as Hut 8 weighs revenue shortfall
Riot Platforms gained after announcing a $28 billion AI lease, while Hut 8 declined following a revenue miss and higher costs.
Riot Platforms gained after announcing a $28 billion AI lease, while Hut 8 declined following a revenue miss and higher costs. Bitcoin (BTC) is trading at ₹76,26,764 ($80,604.00). This is an original Token Times brief based on reporting by Cointelegraph, with live market data added, as of Thu, 05 Nov 2026 03:30:01 UTC.
The contrasting company results show how Bitcoin miners are using capital and infrastructure to pursue AI data-center revenue, while the new contracts may not yet offset mining-sector cost pressures.
- Riot shares surged following a reported $28 billion AI lease.
- Riot sold Bitcoin to help finance its AI expansion.
- Hut 8 fell after reporting lower revenue and rising costs.
- Bitcoin trades at $80,641, up 4.63% over 24 hours.
Cointelegraph reported that Riot Platforms shares surged following the company’s $28 billion AI lease. The miner also sold 
Bitcoin to finance its expansion into AI infrastructure, according to the outlet, although the size of that sale was not specified.
Hut 8 moved in the opposite direction after posting a revenue miss. The company reported falling revenue and rising costs, while its shares sank; Cointelegraph said its major data-center leases had not yet begun generating income.
The developments highlight a shift in how publicly listed Bitcoin miners are allocating capital toward AI hosting. Riot’s reported sale of Bitcoin to fund expansion and Hut 8’s reliance on future lease income underscore the financial and operational requirements of that strategy. The Bitcoin network currently registers 1,035 EH/s of hashrate and 148.4 trillion difficulty, according to mempool.space.
Broader crypto conditions were positive but measured. Bitcoin was trading at $80,641, up 4.63% over 24 hours but down 0.43% over seven days, with a $1.62 trillion market capitalization. The total crypto market stood at $2.76 trillion, while the Fear & Greed index registered 50, or Neutral. The company-level focus now centers on lease execution, the timing of revenue recognition and whether new data-center income can offset the cost pressures visible at Hut 8.
Since this brief published about 9 hours ago, Bitcoin (BTC) has moved from ₹76,30,265.21$80,641.00 to ₹76,26,764.26$80,604.00 — -0.05%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₹8.29M (about $80,604.00), up 5.7% over 24 hours. The rupee itself trades about 8.7% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 5, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Riot rallies on $28B AI lease as Hut 8 weighs revenue shortf — questions & answers
What is Riot’s reported $28 billion AI lease?
Cointelegraph reported that Riot Platforms announced a $28 billion AI lease. The supplied coverage did not specify the counterparty, contract duration or payment schedule.
How did Riot finance its AI expansion?
Riot sold Bitcoin to help fund the expansion, according to Cointelegraph. The report did not provide the amount or price of the Bitcoin sold.
Why did Hut 8 shares decline?
Hut 8 reported falling revenue and rising costs alongside a revenue miss. Its major data-center leases had not yet generated income, Cointelegraph said.
How much is 1 Bitcoin worth in rupee today?
About ₹8.29M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $80,604.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cointelegraph. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.