Mining company Riot sold 1,080 BTC to purchase Texas land and co-build a data center with AMD; its stock price closed up 16.02%.

According to Mars Finance, on January 17th, cryptocurrency mining company Riot Platforms announced on Friday that it had acquired 200 acres of land in Rockdale, Texas, for $96 million by selling approximately 1,080 bitcoins. The company also signed a data center leasing and servicing agreement with semiconductor company AMD, initially deploying 25 megawatts of "critical IT load capacity." Riot stated that the initial 10-year agreement could generate approximately $311 million in revenue for the company, with the potential to reach $1 billion if three five-year renewals are executed. Driven by this news, the company's stock (ticker symbol RIOT) traded on Nasdaq jumped to $18.80, an 11% increase in the past 24 hours.