Mining company Riot sells 1,080 BTC to purchase land in Texas and jointly build a data center with AMD, stock price closes up 16.02%
BlockBeats News, January 17, cryptocurrency mining company Riot Platforms announced on Friday that it had paid for an acquisition worth $96 million by selling approximately 1,080 bitcoins, acquiring 200 acres of land in Rockdale, Texas. The company also signed a data center leasing and service agreement with semiconductor company AMD, initially deploying a "critical IT load capacity" of 25 megawatts.
Riot stated that this agreement, with an initial term of 10 years, could bring the company approximately $311 million in revenue, and if three five-year renewal options are exercised, the potential could reach $1 billion. Driven by this news, the company's stock traded on a certain exchange surged to $18.80, an increase of 11% in the past 24 hours.
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