Riot Platforms Inc. saw its stock price increase by 16.11 percent on Friday, closing at $19.24 per share. The move followed the announcement of a new data center lease and services agreement with Advanced Micro Devices Inc.
The company stated it has entered into a 10-year lease agreement with AMD for the delivery of 25 megawatts of critical IT load capacity at its Rockdale site. The initial contract is valued at $311 million.
AMD holds an option to extend the lease by three five-year contracts, which would bring the total potential value to $1 billion. Additionally, AMD has an expansion option for an extra 75 megawatts of capacity and a right of first refusal for another 100 megawatts. If fully exercised, AMD's total leased capacity at the Rockdale site would reach 200 megawatts.
Riot Platforms said it has started retrofitting an existing building for the project. Delivery to AMD is expected in two phases, with the first phase scheduled for this month and final completion in May 2026.
In a separate development, Riot Platforms announced the successful acquisition of 200 acres of land in Milam County, Texas. The company previously leased this land and purchased it for $96 million.
The transaction provides the company with a permanent base and greater long-term stability in the area, enabling further data center development for its customers.