Riot Platforms Advances Texas Expansion Alongside New AMD Services Deal

Riot Platforms is pushing deeper into data center development after using recently liquidated Bitcoin reserves to finance a major expansion in Texas.

The move highlights a growing trend among large mining firms to diversify away from pure crypto mining and reposition infrastructure for artificial intelligence and high-performance computing workloads.

The company disclosed that it acquired roughly 200 acres of land in Rockdale, Texas, in a transaction valued at $96 million. The purchase was funded entirely through the sale of approximately 1,080 Bitcoin, reinforcing Riot’s recent decision to actively monetize its digital asset holdings to support long-term infrastructure investments.

From mining Bitcoin to powering AI

Alongside the land acquisition, Riot entered into a long-term data center lease and services agreement with Advanced Micro Devices. The partnership will begin with the deployment of 25 megawatts of critical IT capacity, marking Riot’s first large-scale step into serving external compute demand beyond cryptocurrency mining.

According to company leadership, the agreement represents a turning point in Riot’s strategic roadmap. The initial ten-year contract is expected to generate more than $300 million in revenue, with upside potential approaching $1 billion if multiple extension options are exercised. Investors responded positively, sending Riot’s Nasdaq-listed shares sharply higher following the announcement.

This expansion builds on Riot’s recent decision to reduce its exposure to Bitcoin mining alone. Last week, the company confirmed it had sold a significant portion of its Bitcoin reserves in December as part of a broader plan to unlock value from its data center assets. Despite the sales, Riot remains one of the largest corporate holders of Bitcoin globally.

A broader shift across the mining sector

Riot is not alone in rethinking how mining infrastructure can be deployed. CleanSpark recently announced plans to acquire hundreds of acres in Texas for a new data center campus capable of supporting AI and high-performance computing workloads, signaling a similar strategic pivot.

Other major mining firms, including MARA Holdings, Core Scientific, Hut 8, and TeraWulf, have also outlined initiatives aimed at serving compute-intensive applications outside traditional Bitcoin mining.

Rising mining difficulty and tightening margins are pushing operators to seek more predictable revenue streams. As demand for AI compute capacity continues to grow, large-scale mining facilities – with their access to power, cooling, and land – are increasingly being repurposed as next-generation data centers. Riot’s Texas deal underscores how quickly that transition is now unfolding.

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