Riot Platforms (RIOT) was trading higher during morning trading on Friday after the bitcoin miner announced a series of transformative transactions for its data center business.
Shares were +7.60% to $17.83 after the opening bell.
The company acquired 200 acres of land at Rockdale for $96.0M for addition to its portfolio of data center development opportunities. The acquisition was funded entirely by the sale of ~1,080 bitcoins from its balance sheet.
As of December 2025-end, the company held 18,005 bitcoins.
Riot said it intends to convert the full 700 MW of gross power capacity at its Rockdale site for data center tenants.
Additionally, Riot signed a data center lease and services agreement with Advanced Micro Devices (AMD) at Rockdale.
The agreement includes an initial deployment of 25 MW of critical IT load capacity to be delivered in phases at the Rockdale site beginning in January 2026 and completing in May 2026. There is a potential for additional expansion of up to 200 MW of critical IT load capacity.
The data center lease carries an initial term of 10 years and is expected to generate ~$311M in contract revenue. The agreement includes three five-year extension options, which could bring the total expected contract revenue to ~$1B.
“I am pleased to share the substantial progress we have made at Rockdale, which expands our fully approved data center power portfolio to 1.7 gigawatts and, through the signing of a data center lease with AMD, firmly establishes Rockdale as a leading data center development opportunity,” said Riot CEO Jason Les.
“We continue to work towards converting all available power capacity at our Rockdale and Corsicana sites for data center use,” said the CEO.