Riot Platforms (NASDAQ: RIOT) is opening a new chapter in its expansion plans.
The Bitcoin mining giant has entered a major partnership with semiconductor giant AMD (NASDAQ: AMD).
Riot joins a growing group of Bitcoin miners pivoting toward artificial intelligence (AI) infrastructure, leveraging their access to power and real estate to diversify revenue streams as AI demand accelerates.
Related: What is Bitcoin mining? Explained
Bitcoin mining companies are increasingly pivoting toward Artificial intelligence as demand for AI computing infrastructure surges.
Faced with tighter margins after Bitcoin halvings and volatile energy costs, miners are repurposing their large-scale data centers, power contracts, and grid connections to support AI and high-performance computing workloads.
Firms such as Riot Platforms and Core Scientific have signed long-term AI data center deals, offering stable, dollar-denominated revenue.
Meanwhile, some Bitcoin mining companies like Applied Digital (NASDAQ: APLD) are moving away from Bitcoin mining to become a major player in AI infrastructure. In November 2025, Bitfarms announced plans to shut down its Bitcoin mining operations for AI.
Riot signed a long-term Data Center Lease and Services Agreement with AMD, its first hyperscale data center tenant.
The initial lease covers 25 megawatts (MW) of critical IT load, with phased delivery scheduled from January 2026 to May 2026, utilizing retrofitted existing buildings.
The 10-year agreement is expected to generate around $311 million in revenue, with additional options that could bring total contract value to $1 billion.
The Bitcoin mining firm also acquired land at its 200-acre Rockdale site in Milam County, Texas, for $96 million. The purchase was funded entirely by selling approximately 1,080 BTC ($94,342.25 each) from its balance sheet.
According to the company, Riot now owns and manages over 1,100 acres and 1.7 gigawatts (GW) of power capacity across two Texas facilities, separated by about 100 miles.
“Together, they anchor an unrivaled, leading position in the ‘Texas Triangle,’ a formation of the major urban centers of Texas bounded by Austin, Dallas, Houston and San Antonio,” the company said in a statement.
RIOT surged 16.02% on Jan. 16 to trade at $19.22.
