Riot Platforms sells over $160 million of Bitcoin to finance land acquisition in Texas, marking a strategic shift. The deal includes 200 acres of land funded by the sale of about 1,080 Bitcoin and a data center lease with AMD. Riot anticipates $311 million in revenue, potentially reaching $1 billion with extensions.

CleanSpark follows suit by acquiring 447 acres of land in Texas for a 300 MW data center, focusing on artificial intelligence and high-performance computing. Both Riot and CleanSpark are among several companies expanding their services beyond mining to include AI and HPC capabilities amid increasing BTC difficulty.

Riot’s CEO, Jason Les, views the deal as a pivotal moment in establishing the company as a leading data center developer. With plans for AI/HPC use, Riot is positioning itself for growth and innovation in the evolving crypto mining landscape. Other companies, like MARA Holdings and Core Scientific, are also aligning their strategies with AI and HPC.

Read more at Cointelegraph: Bitcoin Miner Riot Platforms Deepens AI/HPC Push with Texas Land Deal