On August 11, Riot Platforms rose 5.67% in after-hours trading, trading at $20.41/share, with turnover of $15.27 million.

On the news front, the company announced it has signed a 20-year, 191-megawatt data center lease agreement with a frontier AI laboratory, expected to generate up to $9.1 billion in total revenue. This deal marks a critical step for Riot Platforms into the AI-driven high-performance computing infrastructure market.

Notably, activist investor Starboard Value, which holds approximately 12.7 million shares in the company, had previously urged Riot Platforms to accelerate its transition toward AI data center operations. Starboard highlighted that the company's Corsicana and Rockdale facilities represent top-tier locations for AI and high-performance computing hosting, emphasizing the compelling economic value these sites could unlock in commercial negotiations. The newly signed agreement appears to validate Starboard's thesis and demonstrates tangible progress in the company's strategic pivot from pure bitcoin mining toward diversified data center services.

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