Riot Expands Data Centre Business with Land Deal & AMD Lease

Riot Platforms, Inc has announced a major expansion of its data centre business with the acquisition of the Rockdale Site in Texas and a new lease agreement with AMD. 

These steps mark the company's shift into large-scale data centre development.

Jason Les, CEO of Riot Platforms, says: “I am pleased to share the substantial progress we have made at Rockdale, which expands our fully approved data centre power portfolio to 1.7GW and, through the signing of a data centre lease with AMD, firmly establishes Rockdale as a leading data centre development opportunity.

“This partnership represents a validation of Riot’s infrastructure, development capabilities, the attractiveness of our sites, our readily available power capacity and our ability to offer innovative solutions to meet the requirements of top-tier tenants.”

Rockdale acquisition unlocks full site control

Riot has acquired 200 acres of land in Milam County, Texas for US$96m. The transaction is funded entirely by the sale of approximately 1,080 bitcoin from its balance sheet. 

The land, previously held through a ground lease, is now fully owned under a fee simple structure, which gives Riot complete ownership and development rights.

The Rockdale Site includes a 700MW power connection to the grid, as well as dedicated water and fibre infrastructure. Riot plans to convert the full 700MW to support data centre use.

Following the deal, Riot now owns more than 1,100 acres across its Rockdale and Corsicana sites, both located in Texas. Combined, the sites hold 1.7GW of approved power capacity. 

The facilities sit within the “Texas Triangle” – an area formed by the cities of Austin, Dallas, Houston and San Antonio – which is known for its growing technology sector and favourable energy market.

Jason credits Riot’s data centre team, led by Chief Data Centre Officer Jonathan Gibbs, with rapidly building a solution that supports both initial capacity and future expansion for its new tenant.

Jason says: “Our data centre team, led by Chief Data Centre Officer Jonathan Gibbs, worked quickly to develop a uniquely tailored offering that met AMD’s immediate needs and offers a path for further expansion of our collaboration. 

“We are incredibly excited to collaborate and grow with AMD, one of the most significant hardware manufacturers in the world and a key leader in the AI ecosystem. 

“These results mark a pivotal moment that cements Riot’s position as a leading data centre developer, less than twelve months since the launch of our formal process to evaluate our assets for AI/HPC use. 

“Today’s milestones strongly position us for future development and leasing opportunities. As we continue to work towards converting all available power capacity at our Rockdale and Corsicana sites for data centre use, we are galvanised by the opportunity this presents for substantial long-term value creation for our shareholders.”

AMD lease adds AI and HPC focus

Riot has signed a Data Centre Lease and Services Agreement with AMD to deliver 25MW of critical IT load capacity at the Rockdale Site. 

The lease runs for 10 years and is projected to generate US$311m in contract revenue. It includes three five-year extension options, which could increase the total value to approximately US$1bn.

AMD also holds expansion rights for an additional 75MW and a right of first refusal for another 100MW. If exercised in full, AMD’s total footprint at the site would reach 200MW.

Initial deployment will use Riot’s current infrastructure, with delivery set in two phases: January 2026 and May 2026. 

The retrofit is budgeted at US$89.8m, or US$3.6m per MW. Riot expects the project to deliver US$25m in average annual net operating income through a modified gross lease with yearly escalators.

Hasmukh Ranjan, CIO of AMD, says: “At AMD, advancing high-performance computing and AI requires partners that can match our pace and scale.

“We’re excited to work with Riot, whose capabilities, power availability and high-density solutions align with our infrastructure roadmap. This collaboration strengthens our ability to deliver the performance and scalability the AI ecosystem demands.”