Riot Platforms, Inc. has secured a 25‑MW data‑center lease with Advanced Micro Devices, Inc. (AMD) at its Rockdale, Texas facility, marking a key milestone in the company’s transition from Bitcoin mining to high‑density computing infrastructure.
The ten‑year lease, valued at approximately $311 million in contract revenue, includes three five‑year extension options that could raise total revenue to about $1 billion if fully exercised. AMD also receives an expansion option for an additional 75 MW and a right of first refusal for another 100 MW, potentially increasing its leased capacity at Rockdale to 200 MW.
Rockdale’s 700 MW grid interconnection, dedicated water supply, and fiber connectivity make it one of the most attractive sites for hyperscalers and AI workloads in the Texas Triangle. The lease will allow AMD to deploy its Instinct MI series GPUs and EPYC CPUs in a facility designed for the power and cooling demands of AI training and inference.
For Riot, the deal represents a strategic pivot that diversifies its revenue base beyond volatile Bitcoin mining. The company funded the acquisition of 200 acres at Rockdale for $96 million through the sale of roughly 1,080 bitcoins, and the new lease is expected to begin operations in January 2026, with full deployment by May. Management highlighted the lease as validation of Riot’s infrastructure capabilities and a step toward a more predictable, long‑term income stream.
AMD’s CEO Jason Les said the partnership “validates Riot’s infrastructure, development capabilities, and the attractiveness of its sites,” while AMD’s CIO Hasmukh Ranjan noted that the collaboration “aligns with our infrastructure roadmap and supports our AI ambitions.” The lease positions AMD to scale its AI offerings in a region with strong demand for high‑performance computing.
Analysts welcomed the agreement as a significant win for both companies. The deal is expected to strengthen Riot’s balance sheet, reduce reliance on cryptocurrency markets, and provide AMD with a reliable power source for its expanding AI portfolio. Investors viewed the announcement as a positive step toward stabilizing Riot’s revenue and enhancing AMD’s competitive position in the AI chip market.
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