On August 11, Riot Platforms rose 18.4% overnight, currently trading at $23.79/share, with turnover of $299,900.

On the news front, the company announced it has signed a 20-year, 191-megawatt data center lease agreement with a frontier AI laboratory, expected to generate up to $9.1 billion in total revenue. The deal marks a critical milestone for Riot Platforms as it formally enters the AI-driven data center market and expands its high-performance computing infrastructure footprint.

Notably, activist investor Starboard Value, which holds approximately 12.7 million shares, had previously urged the company to accelerate its transition toward AI data center operations, identifying the Corsicana and Rockdale facilities as top-tier locations for AI/HPC hosting. The signing of this agreement represents substantial progress in executing that transformation strategy, validating the commercial potential of Riot's existing infrastructure assets beyond traditional bitcoin mining.

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