Riot stock jumps after $311M AMD data center deal

Riot Platforms' stock jumped up to 11% after acquiring its Rockdale site and signing a $311M, 10-year data center deal with AMD, marking a major shift toward AI infrastructure.

Riot Platforms' stock surged between 7% and 11% after announcing a major strategic shift toward AI infrastructure. The company acquired 200 acres at its Rockdale, Texas facility for $96 million, funded by selling about 1,080 Bitcoin. This acquisition gives Riot full ownership of the site, unlocking 700 MW of grid interconnection, water supply, and fiber connectivity, and expanding its Texas portfolio to over 1,100 acres and 1.7 GW of power capacity. Riot also signed a landmark 10-year data center lease and services agreement with AMD. The initial deployment will have a 25 MW IT load starting in January 2026, with a second phase in May 2026. The contract is valued at $311 million, with options to expand up to 200 MW and potentially increase the total value to $1 billion. Riot is retrofitting an existing building for this deployment, budgeting $89.8 million in capital expenditures. This marks a strategic pivot from Bitcoin mining to AI and high-performance computing infrastructure.