New York, Jan 18, 2026, 06:00 ET — Market closed.
Riot Platforms’ stock jumped nearly 16% Friday, closing at $19.24, following the bitcoin miner’s announcement of a long-term data center agreement with Advanced Micro Devices linked to its Rockdale, Texas facility. (SEC)
The AMD lease covers an initial 25 megawatts of “critical IT load” — that’s the power running servers — under a 10-year deal expected to bring in around $311 million in contract value. Extension options could push that figure close to $1.0 billion. Riot flagged retrofit capital spending for the initial build at $89.8 million and projects an average net operating income contribution near $25 million annually from the lease. This non-GAAP measure is defined as expected lease revenue minus certain costs. “At AMD, advancing high-performance computing and AI requires partners that can match our pace and scale,” said AMD CIO Hasmukh Ranjan in the statement. (Riot Platforms)
This shift is significant since miners’ stock prices remain tied to crypto swings. The company aims to secure a more stable, contracted revenue stream for its energy-hungry hardware, which was once marketed primarily for bitcoin mining. Bitcoin hovered near $95,134 early Sunday, showing little movement on the day.
Riot’s business update revealed the Rockdale deals feature a $96 million fee-simple purchase of 200 acres it once leased. It also flagged a 700 MW “evergreen” grid interconnection with Oncor, Texas’ transmission operator. The update noted the land purchase wipes out roughly $130 million in potential ground-lease liabilities, handing Riot greater control over site operations.
Clear Street analyst Brian Dobson called the AMD lease and Rockdale land acquisition a “reinforcement” of Riot’s standing as a top pick. He highlighted the move as a step forward in the company’s AI and high-performance computing shift, maintaining a $29 price target. (TipRanks)
Cantor Fitzgerald lifted its price target on Riot to $31 from $25, maintaining an Overweight rating. The firm sees the AMD deal as a potential blueprint for future agreements, according to a research-note summary shared by The Fly. (TipRanks)
Riot’s rally pushed the wider bitcoin-mining sector higher on Friday. AMD shares ended up around 1.7%, Marathon Digital jumped roughly 6.6%, and CleanSpark climbed about 5.0%, according to last-trade figures.
That said, the upside hinges on flawless execution. Riot’s own filings note that their projected net operating income contribution is a non-GAAP estimate and comes with caveats. The company also flagged potential hold-ups like buildout delays, supply-chain disruptions, and other factors that could shift costs and timelines. (GlobeNewswire)
U.S. markets were closed Monday for Martin Luther King Jr. Day, so all eyes turn to Tuesday. Traders will weigh if Friday’s rerating sticks and how to factor in the risks tied to higher capex and tenant concentration. (NASDAQ Trader)
After the open, eyes will be on any updates about the AMD buildout. Traders want to know if Riot can lock in more third-party data center leases as it pushes deeper into AI infrastructure. The company confirmed initial AMD capacity starts rolling out this month, with completion expected by May. (Nasdaq)
