Riot Platforms, Inc. (NASDAQ:RIOT) stock rose Friday after the company detailed major real estate and data center deals.
The Colorado-based company said it completed a land purchase and signed its first hyperscale data center lease.
Strategic Shift
Riot said the transactions accelerate its push beyond bitcoin mining into large-scale data center development.
The company acquired full ownership of roughly 200 acres underlying its Rockdale facility in Milam County, Texas.
Riot funded the $96 million purchase entirely through the sale of bitcoin held on its balance sheet.
The acquisition replaces a long-term ground lease and secures permanent control of the Rockdale property.
As of October 30, Riot said it has maintained “industry-leading” financial position, with $170.0 million in working capital, including $330.7 million in unrestricted cash on hand, and $75.6 million in restricted cash.
Power And Location
Riot said the site includes a 700-megawatt grid connection, fiber access, and dedicated water resources.
The company plans to repurpose the entire Rockdale power capacity for data center tenants over time.
Riot now controls more than 1,100 acres and 1.7 gigawatts of approved power across two Texas campuses.
The facilities sit within the Texas Triangle, linking Austin, Dallas, Houston, and San Antonio.
AMD Partnership
Riot also announced a long-term data center lease with Advanced Micro Devices, Inc. (NASDAQ:AMD).
The agreement covers an initial 25 megawatts of critical IT load at the Rockdale location.
Riot expects phased delivery to begin in January 2026 and finish by May 2026.
The contract runs for 10 years and carries projected revenue of about $311 million.
Three optional five-year extensions could lift total contract value to roughly $1 billion.
AMD also secured expansion rights that could raise total leased capacity to 200 megawatts.
Executive View
CEO Jason Les said the deal validates Riot’s infrastructure, power access, and development capabilities.
Les said the partnership positions Riot as a leading data center developer within a year of entering the sector.
AMD CIO Hasmukh Ranjan said Riot’s scale and power availability support the company’s AI infrastructure roadmap.
RIOT Price Action: Riot Platforms shares were up 11.89% at $18.54 at the time of publication on Friday, according to Benzinga Pro data.
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