Riot Platforms Stock Soars 13% After Securing $311 Million, 10-Year Data Center Deal with AMD
Riot Platforms just locked in a decade-long power play with chip giant AMD—and Wall Street is cheering.
The Deal That's Fueling the Rally
Forget small-scale partnerships. This is a $311 million, ten-year anchor lease for data center capacity. It's a massive, long-term bet on infrastructure, signaling Riot isn't just mining for today; it's building the engine for the next cycle.
Why This Move Cuts Through the Noise
In a sector often criticized for its volatility and energy consumption, securing a decade-long commitment with a tech titan like AMD is a masterstroke. It provides operational certainty, potentially lower long-term costs, and a powerful narrative of legitimacy. It's a direct rebuttal to the 'crypto is just speculative' crowd—this is hard infrastructure, hard capital, and a hard commitment.
The Bigger Picture for Digital Assets
This isn't just about one company's stock pop. It's a signal flare for the entire digital asset ecosystem. When major public miners make moves this decisive, it validates the industrial-scale future of the sector. It tells institutional investors that the foundational layer—the physical compute power—is becoming as robust and predictable as any other utility.
The market's 13% surge is a quick verdict, but the real payoff is in the years ahead. While traditional finance still debates ETFs, the real builders are signing decade-long checks. Sometimes, the most bullish signal isn't a price chart—it's a lease agreement.
Riot cashes in on Texas infrastructure
Jason Les, CEO of Riot, said the partnership with AMD “firmly establishes Rockdale as a leading data center development opportunity” and positions Riot for substantial long-term value creation.
Les also stated, “This partnership represents a validation of Riot’s infrastructure, development capabilities, the attractiveness of our sites, our readily available power capacity, and our ability to offer innovative solutions to meet the requirements of top-tier tenants.”
The Rockdale site features a 700 MW interconnection to the grid, a dedicated water supply, and fiber connectivity. Combined with its Corsicana facility, Riot now controls over 1,100 acres and 1.7 gigawatts (GW) of power capacity across Texas, anchoring what the company describes as an “unrivaled” position in the state’s major urban corridor.
Hasmukh Ranjan, chief information officer at AMD, said the chip Maker was “excited to work with Riot, whose capabilities, power availability, and high-density solutions align with our infrastructure roadmap.”
Why are miners pivoting to AI/HPC?
Dwindling revenue following the 2024 Bitcoin halving event and increased operational costs have pushed companies from all-in BTC mining to alternative sources of revenue in high-performance computing (HPC) and AI.
IREN secured a big-time $9.7 billion deal with Microsoft in November 2025. In September, former Ethereum-focused miner CoreWeave expanded its deal with OpenAI to $6.5 billion, taking the whole deal to around $22.4 billion.
CoreWeave struck a deal to acquire Bitcoin miner Core Scientific for $9 billion. However, the deal fell through after the shareholders rejected the offer. Bitfarms and CleanSpark recently saw their stocks rise thanks to their respective announcements that they were expanding their footprint in the US with regard to HPC/AI.
They add to the field, which is seeing more former miners compete for limited power resources and technology partnerships.
Riot’s retrofit capital expenditure for the initial AMD deployment totals $89.8 million, representing $3.6 million per MW of critical IT load capacity. The company expects the lease to generate an average net operating income of $25 million per year once operational.
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