An update from the Q2 earnings on the $Riot Platforms(RIOT)$ and $Advanced Micro Devices(AMD)$ deal.
The initial 25 MW was delivered to AMD on time and on budget.
Another 25 MW expansion is now under construction, which brings the total contracted capacity with AMD to 50 MW. Of that, 10 MW is due November 2026 and 15 MW is due May 2027.
Total revenue over the 10-year term is around $636M, with average annual NOI of about $51M.
AMD still holds options that could take the partnership to 200 MW. Combined with the 191 MW frontier AI lab deal announced today, Riot now has 241 MW of AI data center capacity locked in.
Clean execution on the AI pivot.
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