Riot Platforms shares surged after the company confirmed a major strategic pivot toward artificial intelligence infrastructure, underscoring a growing trend among bitcoin miners to diversify beyond pure crypto production. The company announced it has acquired full ownership of its 200 acre Rockdale site in Milam County, Texas, completing the purchase through the sale of roughly 1,080 bitcoin valued at about $96 million. The move strengthens Riot’s control over its physical infrastructure while freeing the site for alternative high value uses. Investors reacted positively to the announcement, viewing the land acquisition as a foundational step in repositioning the business toward long term, non cyclical revenue streams. Market participants noted that converting bitcoin holdings into productive infrastructure reflects a shift in capital allocation priorities as miners seek stability amid volatile crypto markets.
Alongside the land purchase, Riot disclosed it has signed a long term data center lease and services agreement with Advanced Micro Devices, marking its first hyperscale tenant. The agreement initially covers 25 megawatts of critical IT load, with phased delivery beginning in January 2026 and concluding by May using retrofitted existing facilities. The contract carries a 10 year term and is expected to generate approximately $311 million in revenue, with options that could lift total value to nearly $1 billion. Riot said the partnership positions it squarely within the fast expanding AI infrastructure market, leveraging its access to large scale power and land assets. The company now owns and manages more than 1,100 acres and roughly 1.7 gigawatts of power capacity across its Texas facilities, enhancing its appeal to enterprise scale computing customers.
The announcement highlights how bitcoin miners are increasingly adapting to structural changes in energy and compute demand. With AI workloads driving unprecedented need for power dense data centers, firms like Riot Platforms are seeking to repurpose existing infrastructure to capture new revenue opportunities. Analysts see the deal as a validation of miner owned sites as viable alternatives to traditional hyperscale data center developments, particularly in power rich regions such as Texas. The market response suggests investors are receptive to miners pursuing hybrid models that blend digital asset exposure with infrastructure leasing. As competition intensifies in both mining and AI compute, Riot’s strategy illustrates a broader industry effort to future proof operations by aligning with long term secular demand.
