Riot Blockchain Sells 1080 BTC to Purchase Texas Land for Data Center Joint Venture with AMD, Stock Price Rises by 16.02%

BlockBeats News, January 17, Cryptocurrency mining firm Riot Blockchain announced on Friday that it had completed a $96 million acquisition transaction by selling approximately 1,080 bitcoins to acquire 200 acres of land in Rockdale, Texas. The company also entered into a data center lease and service agreement with semiconductor company AMD, initially planning to deploy 25 megawatts of "critical IT capacity."

Riot stated that this initial 10-year agreement could bring in approximately $311 million in revenue for the company, with the potential to reach $1 billion if three five-year renewal options are exercised. Fueled by this news, the company's stock traded on Nasdaq (code RIOT) surged to $18.80, up 11% in the past 24 hours.