Riot Shares Jump 8% After AMD Expands Data Center Capacity at Rockdale, Texas

Bitcoin miner Riot Platforms saw its shares jump about 8% after Advanced Micro Devices expanded its data center capacity at Riot’s Texas campus, a move framed across multiple outlets as part of an AI pivot.

“Bitcoin miner Riot's shares jump 8% after expanding AMD data center deal, signaling AI pivot AMD’s expansion and improved financing terms highlight Riot’s shift beyond bitcoin mining and strengthen confidence in its growing data center business”

@coindesk

Bitget reported that Riot’s shares “soar by nearly 8 percent on Friday,” linking the surge to “rising capacity at the company’s Texas Rockdale campus, where Advanced Micro Devices (AMD) has expanded its operations.”

@coindesk

CoinDesk similarly said Riot’s shares “jump 8% on Friday” after AMD expanded capacity at Riot’s “Rockdale, Texas campus,” and it highlighted that the change underscores Riot’s shift “from bitcoin mining into AI and high-performance computing.”

TheEnergyMag described the same core development as Riot “said its transition toward AI and hyperscale infrastructure accelerated in the first quarter,” pointing to AMD exercising an option to expand at Riot’s “Rockdale, Texas campus.”

Decrypt tied the milestone directly to the company’s first quarter results, writing that Riot reported “$33.2 million in data center revenue—its first quarter generating income from AI infrastructure hosting.”

Across the coverage, the AMD expansion is quantified as doubling contracted capacity to 50 megawatts, with an option to expand further, and the financial impact is tied to a long-term revenue estimate of about $636 million over 10 years.

The reporting converges on specific capacity figures and contract structure for Riot’s Rockdale, Texas campus, with multiple outlets describing AMD’s exercised option and the resulting contracted megawatts.

CoinDesk said AMD “exercised an option to double its contracted capacity to 50 megawatts (MW), with the potential to upsize to 150MW,” and it added that “the agreement could generate roughly $636 million over a 10-year term.”

CoinCentral

Bitget likewise stated that, “According to Riot’s financial report for the first quarter of 2024, AMD has doubled its contracted capacity under their new agreement, reaching 50 megawatts,” and it said “There is potential to further expand this capacity to 150 megawatts in the future.”

Data Center Dynamics provided additional granularity, reporting that AMD “exercised its option to lease an additional 25MW,” bringing Riot’s “total contracted capacity to 50MW,” and it specified delivery timing for the initial and additional capacity.

TheEnergyMag described the amended agreement as giving AMD “a conditional first-priority right to lease up to another 100 MW of capacity, in increments of at least 50 MW,” and it said the expanded 50 MW lease is “expected to generate roughly $636 million in total revenue over a 10-year term.”

Simply Wall St framed the same AMD expansion as “AMD’s decision to expand its Rockdale lease to 50 megawatts of contracted capacity,” and it referenced a “10-year agreement initially valued at US$311 million.”

Alongside the AMD capacity expansion, the sources emphasize a financing change tied to Riot’s bitcoin-backed credit facility with Coinbase, describing it as improved credit terms and a lower interest rate.

“Riot Platforms (RIOT) stock advanced sharply as the company reported solid first-quarter results and expanded its data center business”

CoinCentral

CoinDesk reported that Riot “secured improved terms on its $200 million bitcoin-backed credit facility with Coinbase,” adding that the rate was lowered “to a fixed 6.15% from 8.3%” and that “releasing 1,544 of pledged collateral bitcoin” signaled “growing lender confidence.”

TheEnergyMag similarly said the company disclosed “new terms on its $200 million bitcoin-backed credit facility with Coinbase,” describing an amended agreement “signed in April” that extended maturity “to April 2027” and reduced the interest rate “to a fixed 6.15%, down from 8.3% as of the end of 2025,” while also releasing “1,544 bitcoin previously pledged as collateral.”

Bitget also highlighted the same restructuring, stating that Riot “refined its $200 million Bitcoin-backed loan arrangement with Coinbase,” with the interest rate lowered “from 8.3 percent to a fixed 6.15 percent,” and that “1,544 Bitcoin previously held as collateral have now been released.”

In the CoinDesk account, the financing improvement is explicitly linked to investor perception, quoting Matthew Sigel: “Market pricing in lower cost of capital as the expanded AMD deal drives lender confidence.”

TheEnergyMag added that Riot’s infrastructure expansion was funded without issuing new equity during the quarter, relying instead on “operating cash flow and disciplined bitcoin sales,” and it tied the financing restructuring to the company’s ability to reposition as a data center operator.

The sources connect the AMD deal and Coinbase financing to Riot’s reported first-quarter financials and its operational pivot away from a mining-only model.

CoinDesk said Riot reported “total revenue of $167.2 million for the quarter ended March 31,” up from “$161.4 million a year earlier,” with “$33.2 million in initial data center revenue,” while “bitcoin mining revenue fell to $111.9 million from $142.9 million.”

Decrypt

Decrypt likewise reported “total quarterly revenue reached $167.2 million in Q1 2026, up from $161.4 million year-over-year,” and it described data center revenue as “$33.2 million,” while stating “Bitcoin mining revenue fell to $111.9 million from $142.9 million.”

Data Center Dynamics added that Riot “posted total revenue of $167.2m, compared to $161.4m in Q1 2025,” and it reiterated that the company’s data center transition is tied to AMD as a customer.

TheEnergyMag provided additional operational detail, saying Riot controls “roughly 2 gigawatts of approved power capacity, including 1.7 GW already energized,” primarily across its “Rockdale and Corsicana campuses in Texas,” and it described a Corsicana redesign to support “168 MW of critical IT load, up from an earlier 112 MW design.”

Simply Wall St and CoinCentral both framed the pivot as balancing volatile mining results with data center revenue, with Simply Wall St noting a “net loss of US$500.48 million or US$1.44 per share” alongside “revenue of US$167.22 million.”

Several outlets describe Riot’s internal changes and the market’s interpretation of the pivot, including leadership hires and commentary from a named analyst.

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Data Center Dynamics

TheEnergyMag reported that Riot “hired Adam Black, formerly with Google and Meta, as head of design and construction, and Ria Williams, previously with Oracle and Digital Realty, as senior vice president of AI and hyperscale sales,” and it said the company disclosed “the departure of Jonathan Gibbs, its former chief data center officer, in April,” with “forfeiture of approximately 1.2 million performance-based stock options.”

Simply Wall Street

Data Center Dynamics quoted Riot CEO Jason Les saying, “The first quarter of 2026 marks a definitive inflection point for Riot, as we officially transitioned into an active, revenue-generating data center operator,” and it added that AMD’s “decision to already double their footprint with a 25MW expansion, validates our ability to execute at institutional scale with the most demanding tenants.”

CoinDesk also quoted Les, and it included a named market voice: “Market pricing in lower cost of capital as the expanded AMD deal drives lender confidence,” attributed to Matthew Sigel, head of digital assets research at VanEck.

Simply Wall St, while focused on investment narrative, stated that Riot’s pivot “gained traction” and that “the key catalyst is signing and executing more high-quality leases,” while also emphasizing that “the biggest risk remains earnings and cash flow sensitivity to Bitcoin prices and mining costs.”

CoinCentral described the stock movement in trading terms, saying the share price “closed at $17.24 with a 7.88% gain and moved higher pre-market to $17.60,” and it tied that move to “strong market response” to the “shift toward high-density computing infrastructure and new tenant agreements.”