Riot Platforms Stock Surges 13% After Securing AMD Data Center Deal and Texas Land Acquisition

Riot Platforms saw its stock price climb approximately 13% to $18.70 per share following the announcement of a significant data center lease with Advanced Micro Devices and a strategic land acquisition at its Rockdale, Texas facility.

The publicly traded bitcoin mining company finalized the purchase of 200 acres through the sale of roughly 1,080 bitcoin from its holdings, amounting to $96 million. This acquisition replaces the firm's previous ground lease arrangement and provides complete operational control of the site.

Under the newly signed agreement, Riot will provide AMD with 25 megawatts of critical IT capacity in two deployment phases between January and May 2026. The initial 10-year contract carries an anticipated value of $311 million, with optional extensions potentially increasing total revenue to $1 billion. AMD retains expansion rights for an additional 175 MW of capacity.

The Rockdale property features a 700 MW grid connection, dedicated water infrastructure, and fiber connectivity. Combined with its Corsicana location, Riot now controls over 1,100 acres and 1.7 gigawatts of approved power capacity across Texas.

CEO Jason Les characterized the AMD partnership as validation of the company's pivot toward repurposing mining infrastructure for artificial intelligence and high-performance computing applications—a strategy the firm began exploring less than a year ago.