Investors are excited about a new partnership between a Bitcoin mining company and a major computer chip maker. Shares of Riot Platforms went up by more than seven percent on Friday morning. The company just signed a ten year deal to lease out space in its massive Texas data center to AMD. This move shows that Riot is expanding beyond just mining digital currency.
The deal will start early in 2026 and focus on high power computing and artificial intelligence. Riot expects to make over three hundred million dollars from this contract over the next decade. If things go well and the agreement is extended the total revenue could eventually hit one billion dollars. This partnership proves that big tech companies are interested in the massive power supply Riot has built in Texas.
To make this happen Riot also spent nearly one hundred million dollars to buy two hundred acres of land at its site in Rockdale. They paid for this land by selling over one thousand of the Bitcoins they were holding. By owning the land and the power lines directly they have more control over their future growth. They are now working on fixing up an existing building to get it ready for AMD to move in.
Leaders from both companies say this is a perfect match because AI needs a lot of electricity and space. AMD needs a partner that can keep up with their fast pace and provide the heavy duty infrastructure they require. Riot now manages over one thousand acres and a huge amount of power capacity across its facilities. This transition helps the company become a major player in the world of AI data centers.
