Shares of Riot Platforms climbed more than 11% after the company disclosed that it sold Bitcoin to finance a major land acquisition and data center expansion in Texas. The move highlights a strategic shift away from pure Bitcoin mining toward diversified data center and computing services.
Bitcoin Sale Funds $96 Million Texas Land Deal
Riot confirmed that it purchased 200 acres of land in Rockdale, Texas for $96 million, funded entirely through the sale of approximately 1,080 Bitcoin. The transaction follows an earlier announcement that the company sold over $160 million worth of BTC as part of a broader effort to unlock capital from its crypto holdings. The company’s shares rose to $18.80, reflecting strong investor approval of the strategy.
In a Friday notice, Riot said ;
Alongside the land purchase Riot signed a 10-year data center lease and services agreement with a major semiconductor firm. The initial deployment includes 25 megawatts of critical IT load capacity, with the agreement expected to generate around $311 million in revenue, and potentially up to $1 billion if extension options are exercised
Riot described the deal as a pivotal step in repositioning its infrastructure for AI and high-performance computing workloads. As of year-end, the company still held 18,005 Bitcoin, underscoring that BTC remains a core asset even as operations evolve.
Riot joins a growing group of mining firms expanding into AI-focused data center development, reflecting changing economics across the crypto mining sector.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.