Riot Pivots to AI as $9.1 Billion Computing Deal Boosts Anthropic Expansion

Athropic, the developer behind AI tool Claude, has signed another massive computing power deal worth $9.1 billion with Bitcoin mining firm Riot Platforms.

The agreement marks a significant step in Riot's strategic shift from cryptocurrency mining to AI-focused cloud computing and includes 191 megawatts of computing capacity sourced from Riot's data center campus in Rockdale, Texas.

This deal is one of three major agreements Anthropic has signed in recent months, bringing the combined value of these deals to over $60 billion.

Riot's stock surged 25% in after-hours trading following the announcement, as investors welcomed its pivot from mining to AI data center operations.