Riot Platforms shares surge 20.69% after-hours as strategic pivot to AI data centers and power lease with AMD fuels growth optimism.

Riot Platforms surged 20.69% in after-hours trading following news that it sold $200 million in Bitcoin to fund operations and an AI data-center expansion. The strategic move, highlighted in multiple reports, included management promoting an insider to CFO and operational updates for 2025, signaling a pivot toward high-performance computing infrastructure. While the Bitcoin sale reduced the company’s BTC holdings—raising short-term uncertainty—it was framed as a capital reallocation to accelerate AI infrastructure growth, which analysts view as a longer-term value driver. This shift, coupled with positive sentiment around governance and operational clarity, likely fueled the sharp after-hours rally, contrasting with broader crypto market weakness.