Riot Platforms signed a 20-year AI data center lease worth approximately $9.1B in contract revenue 🤝
The company is shifting its Texas power sites from Bitcoin mining toward AI infrastructure, with AMD as its first tenant.
Bitcoin mining remains unprofitable, with costs of $90,631 per BTC versus a production value of $71,667 📉
The new lease covers 191 MW and could generate $365M-$411M in annual net operating income 💰
First delivery is expected late next year, while full capacity is planned for the following summer ⏳
Riot secured a $573M interim facility, but long-term financing still depends on an investment-grade credit backstop.
Hedge fund ownership increased from 49 to 55, while short interest reached 12.85%, reflecting divided expectations ⚖️
Today's Pill - Bitcoin miners are diversifying into AI data centers, but success depends on funding, infrastructure delivery and turning large contracts into sustainable profits 🔄
The company is shifting its Texas power sites from Bitcoin mining toward AI infrastructure, with AMD as its first tenant.
Bitcoin mining remains unprofitable, with costs of $90,631 per BTC versus a production value of $71,667 📉
The new lease covers 191 MW and could generate $365M-$411M in annual net operating income 💰
First delivery is expected late next year, while full capacity is planned for the following summer ⏳
Riot secured a $573M interim facility, but long-term financing still depends on an investment-grade credit backstop.
Hedge fund ownership increased from 49 to 55, while short interest reached 12.85%, reflecting divided expectations ⚖️
Today's Pill - Bitcoin miners are diversifying into AI data centers, but success depends on funding, infrastructure delivery and turning large contracts into sustainable profits 🔄