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• Riot Platforms (NasdaqCM:RIOT) has signed a 10 year data center lease agreement with AMD focused on high performance computing and AI workloads.
• The company has also acquired 200 acres at its Rockdale site, giving it room for large scale data center expansion.
• These moves mark a shift from a pure bitcoin mining focus toward a broader role as a compute and AI infrastructure provider.
Riot Platforms enters this shift with a share price of $17.543 and a mixed return profile, including a 56.4% return over the past year and 155.7% over three years, alongside a 23.2% decline over five years. Over shorter periods, the stock shows a 32.8% return over the past 30 days and 1.7% over the past week, which puts fresh attention on how this new data center direction might influence sentiment toward NasdaqCM:RIOT.
For investors, the AMD agreement and Rockdale land purchase introduce a different set of drivers compared with a bitcoin mining only story. The key questions now are how quickly Riot Platforms can build out this new capacity, how much of it is filled with recurring contracts, and how the mix of bitcoin and AI infrastructure affects the company’s risk profile over the coming years.
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How Riot Platforms stacks up against its biggest competitors
The AMD agreement effectively starts to re-rate Riot from a single-purpose bitcoin miner toward a power-rich data center landlord serving AI and high-performance computing, a segment where peers like Core Scientific and Hut 8 are also pushing. With a 10-year, US$311.0m contract tied to an initial 25 MW and options up to 200 MW at a 700 MW-connected site, investors now have a clearer line of sight to contracted, fee-based revenue that is less tied to bitcoin price swings than pure mining output.
How This Fits The Riot Platforms Narrative
The long-duration AMD lease directly addresses one of the earlier narrative concerns that Riot lacked large, high-quality data center tenants for its sizeable power footprint. It also aligns with views that see the company’s power capacity in the Texas Triangle as a core asset for AI and cloud compute, potentially shifting the story from primarily bitcoin-price exposure toward a mix of mining and contracted infrastructure similar to how Marathon Digital and Iris Energy are positioning themselves.