Riot Lands $9.1B Anthropic Deal, Marking Shift from Bitcoin Mining
Riot Platforms has secured a massive $9.1 billion deal with Anthropic, a leading frontier AI lab, to lease out its Rockdale, Texas data center for 20 years.
The agreement will see Riot supply 191 megawatts of power and data center capacity to Anthropic, which is expected to be fully online by June 2028. This deal follows a similar $19 billion lease signed with TeraWulf in July.
Riot's stock surged more than 25% after the news broke, reaching $24.40 per share, as investors reacted positively to the fixed, long-term income stream generated by the AI infrastructure leasing business.
This shift from Bitcoin mining to data center leasing marks a significant change in how Riot and other public miners are valued on Wall Street. The industry's traditional measure of computing power, exahashes per second, is giving way to megawatts of grid capacity, which directly translates into AI leasing revenue.