Under the leadership of Jason Les (CEO), Riot Platforms completed a transformative land acquisition and signed its first major data center lease agreement with Advanced Micro Devices (AMD) at its Rockdale, Texas site — marking a strategic pivot from pure bitcoin mining into large‑scale data center and AI infrastructure development that day.

Why This Achievement Is Great

🏗️ Strategic transformation:
Jason Les didn’t just close a routine deal — he repositioned Riot Platforms’ core business strategy by acquiring 200 acres of prime real estate outright (previously leased) and converting it into a data‑center development hub targeted at AI and high‑performance compute demand, signaling a major industry shift for the company.

🤝 High‑profile strategic partnership:
The lease with AMD, a leading global chipmaker, anchors Riot’s first hyperscale data center tenant, with initial service capacity and long‑term expansion potential (including a multi‑phase rollout of power and infrastructure). This kind of partnership gives Riot credible, recurring business revenue streams far beyond its traditional bitcoin mining roots.

📈 Business and market impact:
The deal — including multi‑phase capacity, expansion options, and projected contract revenue — positions Riot as a serious participant in AI infrastructure, meeting surging demand for compute resources. It also boosted market confidence and influenced Riot’s stock performance around that date.