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The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Riot Platforms
Riot Platforms (RIOT) investor relations material
Riot Platforms Status update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Status update summary16 Jan, 2026
Strategic milestones and site development
Acquired 200 acres at Rockdale for $96M, converting from a ground lease to full ownership, unlocking 700 MW of fully approved power for immediate data center development and eliminating $130M in future lease obligations and expiry risk.
Announced first data center lease: a 25 MW, 10-year agreement with AMD, including options for up to 200 MW and three 5-year extensions, establishing a long-term partnership with an investment-grade tenant.
Rockdale and Corsicana sites now offer 1.7 GW of actionable power capacity, positioning the platform as a leading digital infrastructure provider.
Secured easements for potential expansion beyond 700 MW, leveraging proximity to major industrial developments and transmission infrastructure.
Full ownership enables long-term data center strategy, expansion potential, and improved asset control.
Major data center lease with AMD
Executed a 10-year, $311M lease with AMD for a custom-built data center, starting with 25 MW and expansion options up to 200 MW, with a right of first refusal for an additional 100 MW.
Initial 25 MW delivered in two phases: 5 MW in January 2026, 20 MW in May 2026, using a bespoke, phased retrofit model.
Lease includes three 5-year extension options and is tailored to AMD’s high-density, liquid-cooled compute needs.
Expected average annual NOI of $25M over the initial term.
The partnership with AMD validates the team’s credibility and the site’s attractiveness for hyperscale tenants.
Financial and capital allocation strategy
Rockdale land acquisition and data center buildout funded by selling 1,080 bitcoin, using existing liquidity and avoiding equity financing.
Over $2 billion in liquidity, including $406M cash and 18,005–20,000 bitcoin as of December 2025, supports ongoing and future development.
Project equity financing for current developments requires sale of 3,134 BTC.
Capital allocation follows a three-phase approach: fund initial development with Bitcoin sales, use project-level debt for tenant-backed CapEx, and recycle capital for compounding growth.
Initial 25 MW AMD deployment requires under $90M in capital, with a 10-year contract valued at $311M.
Rockdale land: future power capacity expansion?
How does AMD lease shift Riot's revenue model?
What is the long-term BTC sale funding strategy?
Explain Bitcoin's role in initial CapEx funding.
How does AMD deal economics compare to standard builds?
Rockdale's future beyond AMD's 200MW footprint?
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Next Riot Platforms earnings date
Q4 202523 Feb, 2026
Riot Platforms
Next Riot Platforms earnings date
Q4 202523 Feb, 2026
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Frequently asked questions
Riot Platforms Inc (formerly Riot Blockchain, Inc.,) focuses on cryptocurrency mining operation in North America. The company owns the Suprnova Pool, which offers users to mine cryptocurrencies; and operates an ethereum mine. It is also involved in the development of a blockchain-based ecosystem that provides financial services for institutions and individuals focused on facilitating transfers of assets over a blockchain, as well as the development of applications for use on a blockchain.
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