Riot Platforms Expands into Data Centers
Riot Platforms (NASDAQ: RIOT) has announced the acquisition of 200 acres at its Rockdale data center in Texas for $96 million, funded by selling 1,080 Bitcoins. The site, home to North America’s largest Bitcoin mining facility, will see Riot lease 25 megawatts (MW) of capacity to Advanced Micro Devices (AMD), with potential expansion of up to 200 MW.
Since the announcement, Riot’s shares increased by nearly 13.5%. The Rockdale location is significant for Riot, expanding their data center power portfolio to 1.7 gigawatts. This move reflects a broader shift in the industry as Bitcoin miners adapt their facilities to accommodate growing demand for artificial intelligence data processing.
