Bitcoin Miner Riot Platforms Deepens AI/HPC Push with Texas Land Deal

Riot Platforms' shares surged over 11% following the announcement that it used the proceeds from selling approximately 1,080 Bitcoin (BTC) to finance a $96 million land acquisition for 200 acres in Rockdale, Texas. This move is part of a strategic shift to broaden the use of its data centers for Artificial Intelligence (AI) and High-Performance Computing (HPC). Concurrently, Riot signed a 10-year data center lease and services agreement with AMD, initially deploying 25 megawatts (MW) of IT load capacity, potentially generating significant revenue. This land deal follows a previous sale of over $160 million in Bitcoin last week, underscoring the company's pivot away from solely mining. Other miners, including CleanSpark, are pursuing similar strategies to adapt to increasing BTC mining difficulty.

(Source：Cointelegraph)