TLDR
- Anthropic reportedly signed a $9.1 billion, 20-year data center agreement with Riot Platforms.
- Riot will provide 191 megawatts of capacity from its Rockdale, Texas, campus.
- Two five-year extension options could raise the total contract value to $16.1 billion.
- Riot shares jumped more than 20% in overnight trading after the deal was reported.
- The agreement expands Riot’s shift from Bitcoin mining into AI and data center services.
- Anthropic has committed tens of billions of dollars to long-term computing capacity in recent months.
Anthropic has reached a reported $9.1 billion cloud computing agreement with Riot Platforms, adding another large data center contract to the AI company’s recent expansion. Bloomberg reported the deal on August 10, citing people familiar with the matter. Riot shares jumped more than 25% after hours before easing to a gain of about 21% in overnight trading.
Anthropic Tied to Riot’s 191 MW Deal
Riot said Monday that it signed a long-term agreement with a “leading frontier AI” company for 191 megawatts of capacity at its Rockdale, Texas, campus. People familiar with the deal identified Anthropic as the customer.
The agreement runs through June 2048 and could generate about $9.1 billion in revenue for Riot. Two optional five-year extensions could lift the total contract value to as much as $16.1 billion.
The contract adds to Riot’s move from Bitcoin mining into data center services for artificial intelligence companies. Its second-quarter data center revenue reached $23.2 million, supported by 25 megawatts of active computing capacity linked to AMD hardware.
Riot also has another 25 megawatts under construction. Including the 191-megawatt agreement, the company now has 241 megawatts of contracted data center capacity tied to about $9.8 billion in expected revenue.
Bitcoin Miners Target AI Customers
Anthropic has signed several large computing agreements in recent months as it seeks more capacity for its AI systems. The company reportedly agreed in May to pay SpaceX nearly $45 billion for compute resources.
It also signed a six-year, $10 billion agreement with cloud infrastructure company Volta last month. Anthropic separately entered a reported $19 billion, 20-year data center lease with Bitcoin miner TeraWulf in July.
The Riot agreement adds another Bitcoin miner to the group expanding into AI and high-performance computing. Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8 and IREN are also developing related businesses.
Riot shares fell 5.4% during Monday’s regular session before rising sharply after the report. The stock has gained more than 53% this year, while Riot holds a market value of about $7.33 billion. By market capitalization, Riot ranks as the world’s fourth-largest publicly traded Bitcoin mining company. The new contract broadens its revenue base further.
