Riot Platforms Strikes $9.1 Billion AI Infrastructure Deal with Anthropic as Bitcoin Miners Pivot
11 Sources
[1]
Riot Platforms strikes deal with Anthropic as bitcoin miners shift focus to AI infrastructure
Bitcoin miner Riot Platform has struck a $9 billion, 20-year compute deal with Anthropic, CNBC's David Faber has confirmed. The agreement would lease 191 megawatts at Riot's Rockdale, Texas computer campus, giving Anthropic access to scarce, grid-connected power as demand surges for computing
[2]
Anthropic signs a $9.1bn, 20-year cloud deal with bitcoin miner Riot Platforms
The Claude maker has signed a twenty-year, $9.1 billion cloud deal with Riot Platforms, a Texas bitcoin miner busily recasting itself as a landlord for artificial intelligence. Anthropic has struck another enormous deal to feed its appetite for computing power, and this time the counterparty is a
[3]
Anthropic signs $9.1 billion data center deal with Riot Platforms
Anthropic has struck a $9.1 billion agreement with Riot Platforms, a bitcoin mining company that has been building out AI data center capacity, according to Bloomberg. Riot disclosed the deal on Monday, describing the counterparty only as a "leading frontier AI lab." Riot's Rockdale, Texas, campus
[4]
Anthropic Strikes $9B Compute Deal with Bitcoin Miner Riot
Anthropic reportedly struck a $9 billion deal with Riot for 191 megawatts of capacity from the Bitcoin miner's Rockdale campus in Texas. Bitcoin miner Riot Platforms said it secured a 20-year agreement to supply 191 megawatts of capacity from its Rockdale, Texas, campus to a "leading frontier AI"
[5]
Bitcoin Miners Have Something Anthropic Desperately Needs. It's Worth $9.1 Billion
Anthropic has signed a $9.1 billion, 20-year data center lease with Riot Platforms, making the Bitcoin miner at least the third crypto-mining company the Claude maker has tapped for a major AI-infrastructure build. A source familiar with the matter confirmed to Inc. that Anthropic is the unnamed
[6]
Riot Platforms Signs $9 Billion AI Deal With Anthropic
* Deal could generate up to $16.1 billion with extensions * Riot's AI operations at Rockdale will reach 241 megawatts * Company has reduced its Bitcoin treasury by 4,300 BTC In a press release issued Monday, Bitcoin mining firm Riot Platforms announced that it entered into a 20-year agreement to
[7]
This Bitcoin Miner-Turned-Data Center Operator's Stock is Jumping on a $9B Deal With Anthropic
Get personalized, AI-powered answers built on 27+ years of trusted expertise. Riot Platforms shares are surging on a deal with a big name in AI. Shares of Riot Platforms (RIOT) were up about 4.5% in recent trading, a day after the company secured a $9.1 billion, 20-year deal to supply 191
[8]
Anthropic Pays 33% Above Market for AI Capacity - Riot Platforms (NASDAQ:RIOT)
The AI race may be driving a new pricing benchmark. JPMorgan estimates Anthropic agreed to pay roughly $2.4 per watt per year for capacity at Riot Platforms, Inc's (NASDAQ:RIOT) Texas data center -- about 33% above the firm's estimated industry average of $1.8 per watt per year -- suggesting that
[9]
A $9.1 billion AI deal just changed Riot Platforms' story
Riot Platforms (RIOT) has built its company for years around one exceedingly volatile asset: Bitcoin. Artificial intelligence may be offering it a completely unique future. Riot has signed a deal with Anthropic, the company behind Claude, to offer 191 megawatts of data-center capacity at its
[10]
Anthropic signs $9.1 billion cloud deal with Riot, Bloomberg reports By Investing.com
Investing.com -- Anthropic (NASDAQ:ANTP) signed a $9.1 billion long-term agreement with Riot Platforms (NASDAQ:RIOT) to secure AI computing capacity, Bloomberg reported, highlighting the AI developer's aggressive push to lock in infrastructure as demand for its Claude tools continues to grow. Riot
[11]
Riot Platforms signs a $9.1bn deal with Anthropic and accelerates its push into AI
Riot Platforms has signed a 20-year contract with Anthropic to supply computing capacity, representing $9.1bn in revenue. The agreement covers 191 megawatts at its Rockdale, Texas campus, giving Anthropic access to power capacity already connected to the grid. The total could reach about $16.1bn
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Bitcoin miner Riot Platforms has signed a $9.1 billion, 20-year compute deal with Anthropic, leasing 191 megawatts at its Rockdale, Texas campus. The agreement marks a major shift as bitcoin miners transition to AI infrastructure landlords, with the deal potentially reaching $16.1 billion if extended.
Riot Platforms Secures Major AI Infrastructure Deal with Anthropic
Riot Platforms has struck a landmark $9.1 billion, 20-year compute deal with Anthropic, transforming the bitcoin miner into an AI infrastructure provider
1
. The agreement leases 191 megawatts at Riot's Rockdale, Texas campus, giving Anthropic access to scarce, grid-connected power as demand surges for AI compute power2
. This data center deal runs through June 2048 and includes two five-year extension options that could push the total contract value to $16.1 billion3
. Riot shares initially soared more than 20% in after-hours trading before settling, reflecting investor enthusiasm for the bitcoin miners shift to AI1
.
Source: The Next Web
Bitcoin Miners Transform Into AI Infrastructure Landlords
The Anthropic agreement follows Riot's existing data center lease with Advanced Micro Devices, meaning Riot now operates a two-tenant campus carrying $9.8 billion of contracted data center revenue, all accumulated within six months
3
. Riot CEO Jason Les called the agreement a "defining moment" in the company's evolution into a large-scale data center developer5
. Bitcoin mining stocks, once valued for leveraged exposure to cryptocurrency prices, are increasingly viewed by investors as owners of digital infrastructure rather than bitcoin producers, given their power capacity, data center assets and energy contracts1
. This pivot began taking shape in 2022 when crypto prices tumbled, though usually among smaller companies operating underwater when bitcoin prices fell below mining costs.Anthropic's Aggressive Pursuit of Computing Capacity
Anthropic has been signing compute deals at an unprecedented pace to secure capacity before rivals do
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. The company previously struck a $19 billion deal with bitcoin miner TeraWulf on July 6, committed more than $100 billion over 10 years to Amazon Web Services for up to five gigawatts of compute, and signed a $10 billion, six-year deal with Volta Infra Holdings3
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. Anthropic co-founder and CEO Dario Amodei explained the urgency: by May, Anthropic's run-rate revenue had crossed $47 billion, up from roughly $9 billion at the end of 20255
. "We need to build the infrastructure to keep pace with rapidly growing demand," Amodei stated, highlighting why the Claude maker desperately needs high-performance computing resources.Related Stories
Strategic Value of Scarce Power Capacity
Riot plans to bring the AI infrastructure online in stages, reaching 96 megawatts by December 2027 and completing the full 191-megawatt buildout by June 2028
3
. To fund early construction, Riot arranged $573 million in interim financing through Morgan Stanley as it works toward establishing permanent credit backing2
. Bitcoin-miners-turned-AI-infrastructure providers offer investors exposure to AI demand without requiring bets on which models ultimately win, because AI companies all require the same increasingly scarce power, compute capacity and physical facilities1
. Compass Point analyst Michael Donovan noted that ERCOT's increased scrutiny may slow speculative projects navigating the queue, but doesn't reduce tenant demand for large blocks of near-term power1
. "If anything, the scarcity of greenlit capacity should increase its strategic value," Donovan wrote, maintaining a Buy rating and $29 price target on Riot shares.
Source: Cointelegraph
Industry-Wide Shift Among Hybrid Bitcoin Miners
Riot joins a growing list of hybrid bitcoin miners expanding into AI and high-performance computing, including Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8, IREN, Cipher Mining, and TeraWulf
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. While Riot, MARA Holdings and CleanSpark have largely remained pure-play miners, this cloud computing deal signals a major strategic pivot1
. Bernstein stated in a July 23 report that partnerships between AI companies and bitcoin miners are necessary to address power constraints that are limiting AI data center expansion4
. The energy that once went into mining digital coins is being redirected into training Claude models and powering artificial intelligence, with the same warehouses of humming machines now serving a different master2
. For Riot, the $9.1 billion initial contract works out to roughly $455 million annually on a simple average, rivaling the $113.7 million the company generated from bitcoin mining last quarter5
.
Source: Inc.
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