We sit down with Riot Platforms CEO Jason Les to unpack the AMD lease, the Rockdale land purchase, and how we convert a mining-first footprint into a high-return data center platform. The conversation covers financing, speed to market, and why Texas power plus control changes the game.

• Buying Rockdale land to unlock leasing and remove $130m in future ground rent
• AMD’s 25 MW lease with options to 200 MW and ROFR
• Retrofit economics at ~$3.5m per MW versus tier three builds
• Using Bitcoin reserves for non‑dilutive equity and project financing
• 1.7 GW Texas portfolio advantages near fiber, water and metro hubs
• Decommissioning immersion mining to accelerate AMD timelines
• Strategy to maximize value per watt with tier three as the core
• Potential to expand Rockdale power with secured easements
• Role of flexible Bitcoin load for balancing and interim monetization
• Team buildout under Chief Data Center Officer Jonathan Gibbs

Let us know in the comments section below what you thought about today’s Riot news and if you’re currently holding shares!

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