Riot Platforms (NASDAQ: RIOT) is opening a new chapter in its expansion plans.
The Bitcoin mining giant has entered a major partnership with semiconductor giant AMD (NASDAQ: AMD).
Riot joins a growing group of Bitcoin miners pivoting toward artificial intelligence (AI) infrastructure, leveraging their access to power and real estate to diversify revenue streams as AI demand accelerates.
Riot Signs $1 Billion Data Center Deal with AMD
Riot signed a long-term Data Center Lease and Services Agreement with AMD, its first hyperscale data center tenant.
The initial lease covers 25 megawatts (MW) of critical IT load, with phased delivery scheduled from January 2026 to May 2026, utilizing retrofitted existing buildings.
The 10-year agreement is expected to generate around $311 million in revenue, with additional options that could bring the total contract value to $1 billion.
The Bitcoin mining firm also acquired land at its 200-acre Rockdale site in Milam County, Texas, for $96 million. The purchase was funded entirely by selling approximately 1,080 BTC (valued at $94,342.25 each) from its balance sheet.
Strategic Location and Capacity
According to the company, Riot now owns and manages over 1,100 acres and 1.7 gigawatts (GW) of power capacity across two Texas facilities, separated by about 100 miles.
“Together, they anchor an unrivaled, leading position in the ‘Texas Triangle,’ a formation of the major urban centers of Texas bounded by Austin, Dallas, Houston and San Antonio,” the company said in a statement.
RIOT surged 9.6% on January 16 to trade at $18.16.