Riot Platforms ( (RIOT) ) has risen by 16.96%. Read on to learn why.
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Riot Platforms shares have surged 16.96% over the past week as investors cheered a bold strategic pivot beyond pure Bitcoin mining into high-performance computing and artificial intelligence infrastructure. The move was catalyzed by news that the company sold roughly 1,080 Bitcoin to fund a $96 million fee-simple purchase of 200 acres beneath its Rockdale, Texas facility, securing long-term control over a 700 MW, infrastructure-ready site in the heart of the so‑called Texas Triangle. This land deal significantly strengthens Riot’s position as a large‑scale digital infrastructure owner with 1.7 GW of approved power capacity across its Texas locations.
The rally gained further momentum when Riot Platforms announced a 10-year data center lease with AMD as its first major hyperscale tenant at Rockdale. AMD will initially take 25 MW of critical IT load, a contract expected to generate about $311 million in revenue and around $25 million in average annual net operating income for Riot. With expansion options up to 200 MW and a potential contract value of about $1 billion over an extended term, the deal is being viewed by Wall Street as an early but powerful validation of Riot’s ability to attract top-tier technology clients to its high‑power data center footprint.
Analysts across the Street reacted positively to these developments, with firms such as Needham, Northland, Roth and others reiterating Buy ratings and, in several cases, lifting price targets on Riot Platforms. Many now see the AMD agreement as a “critical HPC pivot” that could turn Riot into a dominant infrastructure provider for AI and high‑performance computing workloads. Combined with a Strong Buy consensus rating and substantial upside implied by average 12‑month price targets, this wave of bullish commentary has helped fuel the recent 16.96% climb in Riot’s stock as traders position for the company’s next phase of growth beyond Bitcoin mining alone.