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Riot Platforms (RIOT) shares jumped about 8% on Friday after Advanced Micro Devices (AMD) expanded its capacity at the company’s Rockdale, Texas campus.
AMD doubled its contracted capacity at Riot’s Rockdale, Texas campus to 50 megawatts.
KEY POINTS
- The AMD agreement could generate roughly $636 million in revenue for Riot over 10 years.
- Riot improved its $200 million bitcoin-backed credit facility rate with Coinbase from 8.3% to 6.15%.
- Riot's initial data center revenue reached $33.2 million in Q1, while mining revenue declined.
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