Riot sells Bitcoin to buy land and signs a billion-dollar potential contract with AMD

Bitcoin miner Riot Platforms has recently undertaken several major operational strategy adjustments, signaling its commitment to business model transformation. The company announced the sale of 1,080 Bitcoin reserves to acquire land for its Texas operations, thereby strengthening asset control and reducing long-term operational risks. It also signed a long-term leasing agreement with semiconductor giant AMD to provide power infrastructure support for high-performance computing (HPC) development. This move not only provides the company with a stable non-mining revenue stream but also marks the emerging trend of Bitcoin miners transitioning into AI computing infrastructure. The market responded positively to this strategy, driving the stock price up by 16% in a single day.

Riot Sells Thousands of Bitcoins to Buy Land

Bitcoin miner Riot Platforms (RIOT) recently announced that it has completed the acquisition of approximately 31 acres of land at its Rockdale facility in Texas. This move shifts Riot from a land leaseholder to an owner, significantly strengthening the company’s control over its core operational site and reducing long-term operational uncertainties.

The funds for Riot’s land purchase came from the sale of 1,080 Bitcoins.

Riot Signs Multi-Year Agreement with AMD Valued at Over a Billion Dollars

More notably, Riot announced that it has signed its first data center leasing agreement with semiconductor giant AMD. According to the agreement, AMD will utilize part of the power capacity and infrastructure at the Rockdale campus for the research and testing of its next-generation AI and HPC chips.

Under a 10-year lease with AMD, Riot will provide 25 MW (megawatts) of power capacity for AMD’s use, with full delivery expected before May 2026. The initial contract is valued at approximately $311 million; if AMD exercises renewal and expansion options (up to 200 MW), the total contract value could reach $1 billion.

This collaboration is of landmark significance, demonstrating that the power and cooling systems built by Bitcoin mining companies possess the technical capability to support high-end computing hardware. For Riot, this not only opens up additional revenue streams beyond Bitcoin mining but also symbolizes a shift in its business model from purely cryptocurrency production to more diversified energy and computing infrastructure services.

RIOT Surges 16%

Following the announcement, Riot (RIOT)'s stock price soared, closing up more than 16%, indicating strong market confidence in its strategic direction.

This article, “Riot Sells Bitcoin to Buy Land and Signs Billion-Dollar Potential Contract with AMD,” first appeared on Chain News ABMedia.