Key facts
- Riot Platforms signed a 20-year deal to provide Anthropic with 191 megawatts of computing capacity.
- The agreement is reportedly valued at $9.1 billion, with potential extensions reaching $16.1 billion.
- The computing capacity will be supplied from Riot's Rockdale, Texas, campus.
- This deal signifies a broader industry trend of Bitcoin miners diversifying into AI infrastructure.
- Riot's shares surged over 20% in pre-market trading following the announcement.
Riot Platforms, a Bitcoin miner, has announced a significant 20-year agreement to supply 191 megawatts of computing capacity from its Rockdale, Texas, campus to the AI company Anthropic. The deal is reportedly valued at $9.1 billion, with potential extensions that could increase the total value to $16.1 billion. This move marks a strategic pivot for Riot and the broader Bitcoin mining industry towards providing infrastructure for the burgeoning artificial intelligence sector.
The agreement reflects a growing trend where Bitcoin miners leverage their existing large-scale data centers and power infrastructure to serve AI companies, which require substantial computing power and electricity. Anthropic, identified as the client by Bloomberg, recently signed a similar large contract with another miner, Volta Infra. Deployment of capacity at Riot's sites is slated to begin in December 2027, with full buildout expected by June 2028.
This deal follows Riot's prior lease agreement with chipmaker AMD, bringing its total contracted AI capacity at the Rockdale facility to 241 megawatts. The company's second-quarter revenue showed a 14% increase to $174.2 million, with data center operations contributing $23.2 million, while Bitcoin mining revenue declined. Riot's stock surged over 20% in pre-market trading following the announcement of the Anthropic deal.