Riot Platforms Commits $9.1 Billion to AI Power Capacity Deal

Riot Platforms has made a massive commitment to AI development with a $9.1 billion deal for a 191 MW power capacity at its Rockdale campus in Texas.

The agreement, which spans 20 years, will see Riot delivering power in phases, starting with 96 megawatts by December 2027 and completing the remaining 95 megawatts by June 2028.

While Riot still mines Bitcoin to fund its AI projects, this deal is a significant shift towards utilizing its resources for artificial intelligence growth. The company has also entered into a separate agreement with AMD, which will see it lease 241 megawatts of IT capacity in Rockdale.

Riot's revenue from data centers increased to $23.2 million in the second quarter, as its AMD buildout started contributing to its operations. The combined income from both deals is expected to bring about $9.8 billion.