Riot Platforms Acquires Texas Land and Signs Agreement with AMD

According to BlockBeats, on January 17, cryptocurrency mining company Riot Platforms announced the acquisition of 200 acres of land in Rockdale, Texas, through a transaction valued at $96 million. The purchase was financed by selling approximately 1,080 bitcoins. Additionally, Riot Platforms has entered into a data center leasing and service agreement with semiconductor company AMD, initially deploying 25 megawatts of critical IT load capacity. Riot Platforms stated that the initial 10-year agreement could generate approximately $311 million in revenue for the company, with the potential to reach $1 billion if three five-year renewal options are exercised. Following this announcement, Riot Platforms' stock, traded on Nasdaq under the ticker RIOT, surged to $18.80, marking an 11% increase over the past 24 hours.