Update
Riot Liquidates Bitcoin for AI Infrastructure Deal
American Riot Platforms Inc. (RIOT) liquidated 79% of its Bitcoin holdings, reducing its crypto reserves from 11,380 to 2,418 BTC. The company used the proceeds from the sale, totaling about $1.5 billion, to finance a 15-year, $28 billion AI infrastructure deal with Frontier AI Lab. The deal involves repurposing Riot's free energy capacity for high-performance computing at the Corsicana campus in Texas. Riot's CEO Jason Les noted that the agreement is structured as a triple-net lease, with the client purchasing and maintaining the computing equipment, reducing construction costs by half compared to standard Tier 3 data centers.