Riot Platforms (RIOT) is a Bitcoin (BTCUSD) miner turned artificial intelligence (AI) high-performance computing company. Riot has been essentially using its experience with GPUs and data centers as a Bitcoin miner to slingshot itself into an AI neocloud, and it seems to be working.
Riot signed a deal with Advanced Micro Devices (AMD) in January 2026 for a 25 megawatt lease at Rockdale, with $311 million in contracted revenue over 10 years. AMD doubled this in April — and those numbers are peanuts compared to what happened on Aug. 10.