Riot Platforms Secures $33.2M From AMD, Lifts P/S to 10x
CLSK•Riot Platforms’ Price-to-Sales ratio climbed to 10.0x from a three-year average of 8.3x following its Corsicana facility build-out of up to 1GW IT capacity. The company booked $33.2 million in Q1 data center revenue from AMD’s capacity expansion, highlighting a shift toward high-performance computing that sets peer valuation benchmarks.
1. P/S Multiple Re-Rating
Riot Platforms’ trailing Price-to-Sales ratio expanded to 10.0x, up from an 8.3x three-year average, reflecting investor recognition of its transition from pure-play mining to digital infrastructure. This valuation increase underscores market willingness to assign a premium for diversified revenue streams.
2. Corsicana Facility Expansion
The Corsicana campus is being developed with modular designs to support up to 1 gigawatt of IT capacity, enabling rapid scaling for high-performance computing workloads. This infrastructure pivot positions the company as a hybrid provider of both cryptocurrency mining and enterprise data center services.
3. AMD Agreement and Revenue Impact
Advanced Micro Devices exercised its option to double data center capacity to 50 megawatts, generating $33.2 million in Q1 revenue. This institutional validation demonstrates the viability of long-term leases and sets a competitive benchmark for peers such as Cleanspark.
