Stock Market Today, Jan. 16: Riot Platforms Surges After Securing AMD Data Center Lease [Yahoo! Finance]
Advanced Micro Devices, Inc. (AMD)
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Source: Yahoo! Finance
a long-term data center lease with Advanced Micro Devices (AMD) and a land purchase in Rockdale. Trading volume reached 53.4 million shares, about 172% above its three-month average of 19.7 million shares. Riot Platforms repositioned itself as a Bitcoin miner in 2016 and has grown by 612% since then. The S&P 500 slipped 0.07% to 6,939, while the Nasdaq Composite edged down 0.06% to 23,515. Peers Mara Holdings and Hut 8 rose by 6.57% and 4.14%, respectively, as the market weighed recent deals made in the Bitcoin mining and data center operators niche. Riot Platforms purchased 200 acres of land it already operated on in Rochdale, Texas, for $96 million, using 1,080 of its 18,005 Bitcoin hoard to fund the deal. Now, as the owner of the land, Riot immediately signed a 10-year data center lease and data services agreement with AMD to provide up to 200 megawatts of critical information technology load capacity, under a $311 million contract. If AMD agrees to all three of the five-year
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- Why Shares of Riot Platforms Are Surging Today [Yahoo! Finance]Yahoo! Finance
- Bitcoin pulls back to $94,300 as U.S. stocks sink, precious metals tumble [Yahoo! Finance]Yahoo! Finance
- AMD's Great Overtaking - Buy While It's Cheap [Seeking Alpha]Seeking Alpha
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