Riot ($RIOT) Rockets 13% Following Major Lease With AMD

"The fee simple acquisition replaces Riot's prior ground lease at Rockdale and was funded entirely through the sale of approximately 1,080 bitcoin from the company's balance sheet, totaling $96 million. The mining company said the purchase secures long-term operational control of the site and opens it for large-scale data center development. The property includes a 700 MW grid interconnection, dedicated water supply, and fiber connectivity."

"Under the new lease, the company will deliver 25 megawatts (MW) of critical IT load to AMD in two phases, starting in January 2026 and completing by May 2026. The initial term runs 10 years and carries an expected contract value of $311 million, with three five-year extensions potentially bringing total revenue to $1 billion. AMD also holds an option to expand by 75 MW and a right of first refusal for an additional 100 MW, which would bring its total footprint at Rockdale to 200 MW."

"Riot now owns more than 1,100 acres and 1.7 gigawatts of fully approved power capacity across its two Texas sites, Rockdale and Corsicana, roughly 100 miles apart. The company positions its portfolio within the "Texas Triangle," covering Austin, Dallas, Houston, and San Antonio, a major U.S. data center hub. Riot estimates retrofit capital expenditures for the initial deployment at $89.8 million, or $3.6 million per MW, and expects the lease to contribute roughly $25 million in net operating income per year."

Riot completed a fee simple purchase of 200 acres at its Rockdale, Texas site, funded by the sale of approximately 1,080 bitcoin for $96 million, replacing a prior ground lease and securing long-term operational control. The Rockdale property offers a 700 MW grid interconnection, dedicated water supply, and fiber connectivity, enabling large-scale data center development. Riot signed a lease with AMD to deliver 25 MW of IT load in two phases during early 2026, with a 10-year initial term worth $311 million and extension options that could raise revenue to $1 billion. Riot estimates $89.8 million in retrofit capital expenditures and anticipates roughly $25 million in annual net operating income. Riot's Texas portfolio now exceeds 1,100 acres and 1.7 GW of approved power capacity across Rockdale and Corsicana, within the major U.S. data center hub known as the Texas Triangle.

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