Key facts
- Riot Platforms has entered into a 20-year agreement to supply 191 megawatts of capacity.
- The agreement is with Anthropic, a leading AI company.
- The deal is reportedly valued at approximately $9 billion.
- Riot's Rockdale campus in Texas will provide the computing capacity.
- This follows Anthropic's prior $19 billion data center lease deal with TeraWulf.
Riot Platforms has announced a 20-year agreement to supply 191 megawatts of computing capacity from its Rockdale, Texas, campus to a prominent artificial intelligence company. The customer has been identified as Anthropic, with the deal reportedly valued at approximately $9 billion, according to a Bloomberg report citing sources familiar with the matter.
This significant agreement places Riot among a growing number of Bitcoin miners that are diversifying into providing high-performance computing power for AI applications. Anthropic itself recently entered into a similar 20-year data center lease agreement valued at $19 billion with another Bitcoin miner, TeraWulf.
Analysts at Bernstein have highlighted the necessity of such partnerships between AI firms and Bitcoin miners to address the power constraints currently limiting the expansion of AI data centers. Riot's shares experienced a notable increase in overnight trading following the news, despite an earlier dip on Monday. The company is recognized as one of the world's largest Bitcoin miners by market capitalization.