Riot Platforms Acquires Rockdale Site for $96M, Secures AMD Data Center Lease Worth $311M

TLDR:

• Riot funded the $96 million Rockdale acquisition entirely through selling 1,080 bitcoin from its holdings.
• AMD lease spans 10 years with $311 million revenue potential, expandable to $1 billion with extensions.
• Riot now controls 1.7 gigawatts of power capacity across 1,100 acres in strategically located Texas sites.
• The initial 25 MW deployment begins in January 2026, with AMD holding expansion rights up to 200 MW total.

Riot Platforms has completed a $96 million acquisition of its Rockdale facility while securing a data center lease with AMD. 

The Bitcoin mining company sold approximately 1,080 Bitcoin to fund the purchase of 200 acres in Milam County, Texas. 

This transaction positions Riot as a major player in the data center market with 1.7 gigawatts of approved power capacity across Texas.

Strategic Land Acquisition Expands Data Center Portfolio

The fee simple acquisition grants Riot permanent ownership of the Rockdale Site, which features 700 megawatts of grid interconnection capacity. 

The facility features a dedicated water supply and fiber connectivity, supporting large-scale data center operations.

The company now controls over 1,100 acres across two Texas facilities located within the Texas Triangle. This region encompasses Austin, Dallas, Houston, and San Antonio.

Riot intends to convert the full 700 MW capacity at Rockdale for data center tenant use. The acquisition unlocks immediate development opportunities for hyperscale computing applications. 

CEO Jason Les expressed satisfaction with the substantial progress made at Rockdale. “This partnership represents a validation of Riot’s infrastructure, development capabilities, the attractiveness of our sites, and our readily available power capacity,” Les said.

The transaction was completed entirely through bitcoin sales from the company’s balance sheet. This demonstrates Riot’s willingness to leverage digital assets for strategic real estate investments.

AMD Partnership Establishes Revenue Foundation

Riot has signed a Data Center Lease and Services Agreement with AMD for 25 MW of critical IT load capacity. The initial 10-year term is expected to generate approximately $311 million in contract revenue. Three five-year extension options could increase total contract value to $1 billion.

AMD holds expansion rights for an additional 75 MW of capacity at the site. The chip manufacturer also secured a right of first refusal for another 100 MW. If fully exercised, AMD’s total leased capacity would reach 200 MW at Rockdale.

Delivery will occur in two phases, beginning in January 2026 and completing in May 2026. Riot has started retrofitting existing buildings to meet AMD’s infrastructure requirements. The retrofit expenditure totals $89.8 million, representing $3.6 million per MW of capacity.

AMD CIO Hasmukh Ranjan emphasized the importance of finding suitable partners for computing needs. 

“At AMD, advancing high-performance computing and AI requires partners that can match our pace and scale,” Ranjan said. He noted that Riot’s capabilities and power availability align with AMD’s infrastructure roadmap.

The agreement includes a modified gross lease structure with annual escalators. Riot expects average annual net operating income of $25 million from the deployment.

The partnership marks a turning point less than twelve months after Riot launched its data center evaluation process.

The collaboration positions the company for additional leasing opportunities across its expanded portfolio.

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