Stock Market Today, Jan. 16: Riot Platforms Surges After Securing AMD Data Center Lease

Riot Platforms (NASDAQ:RIOT), a Bitcoin mining and data center operator, closed Friday at $19.23, up 16.05%. The stock moved higher after news of a long-term data center lease with Advanced Micro Devices (AMD) and a land purchase in Rockdale. Trading volume reached 53.4 million shares, about 172% above its three-month average of 19.7 million shares. Riot Platforms repositioned itself as a Bitcoin miner in 2016 and has grown by 612% since then.The S&P 500 slipped 0.07% to 6,939, while the Nasdaq Composite edged down 0.06% to 23,515. Peers Mara Holdings and Hut 8 rose by 6.57% and 4.14%, respectively, as the market weighed recent deals made in the Bitcoin mining and data center operators niche. Riot Platforms purchased 200 acres of land it already operated on in Rochdale, Texas, for $96 million, using 1,080 of its 18,005 Bitcoin hoard to fund the deal. Now, as the owner of the land, Riot immediately signed a 10-year data center lease and data services agreement with AMD to provide up to 200 megawatts of critical information technology load capacity, under a $311 million contract.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool