What did Riot Platforms achieve in its latest acquisitions?
Riot Platforms has made significant strides in its business by securing a vital data center lease with AMD and completing a major property acquisition in Rockdale, Texas. Recently, the company finalized the purchase of 200 acres at its Rockdale site for $96 million. This strategic investment was entirely financed by selling approximately 1,080 Bitcoin. With this new property, which is equipped with 700 megawatts of grid-connected power, water access, and fiber connectivity, Riot is poised to advance its data center development plans.
How will the AMD data center lease impact Riot’s future?
The recent 10-year data center lease signed with AMD guarantees the delivery of 25 megawatts of critical IT load starting in January 2026, with completion expected by May 2026. This contract promises initial revenue of approximately $311 million, with the potential to escalate to $1 billion through future extensions and expansions.
With both of these initiatives, Riot Platforms has expanded its Texas portfolio to over 1,100 acres and 1.7 gigawatts of power capacity. This positions the company strategically within the Texas Triangle as a leading data center developer, reinforcing its potential for long-term growth and value creation for investors.
What does this mean for Riot’s market performance?
Following the announcement of its major lease with AMD and the completed acquisition of the Rockdale property, Riot’s shares experienced a significant uptick, rising more than 7% in premarket trading. This highlights the market's optimism about Riot's future as they solidify their place in the tech and energy sectors, combining both cryptocurrency and data center management capabilities.