By Chris Wack

Riot Platforms shares were 12% higher, at $18.54, after the company said it bought 200 acres of land Milam County, Texas, where it currently has a site for total consideration of $96 million.

The cryptocurrency company said it funded the acquisition entirely by the sale of 1,080 bitcoin from its balance sheet.

The company also said it signed a data center lease and services agreement with Advanced Micro Devices at the Rockdale site, which includes an initial deployment of 25 megawatts of critical IT load capacity to be delivered in phases beginning in January, and completing in May. The deal has the potential for additional expansion of up to a total of 200 MW of critical IT load capacity.

The lease carries an initial term of 10 years and is expected to generate $311 million in contract revenue. Also included are three five-year extension options which, if fully exercised, would bring the total expected contract revenue to $1 billion.

The Rockdale site features a 700 MW interconnection to the grid, dedicated water supply, and fiber connectivity. Riot intends to convert the full 700 MW of gross power capacity at its the site for data center tenants.

Riot said it now owns and manages more than 1,100 acres and 1.7 GW of power capacity across its two Texas facilities, which are separated by 100 miles.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 16, 2026 10:46 ET (15:46 GMT)

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