Riot Platforms Inks $9.1 Billion Cloud Deal with Anthropic Amid AI Boom

Riot Platforms, a leading Bitcoin mining company, has struck a massive cloud computing deal with Anthropic worth approximately $9.1 billion, according to reports. This agreement marks a significant shift in the industry as cryptocurrency miners like Riot are transforming their infrastructure to serve the rapidly growing artificial intelligence sector.

The deal covers 191 megawatts of computing capacity at Riot's Rockdale campus in Texas and is expected to run through June 2048, with an option that could increase the total value of the arrangement to approximately $16.1 billion. This long-term contract provides a significant source of revenue for Riot, making its financial profile more diversified.

Anthropic develops advanced AI models through its Claude product family, which requires enormous computing power. The agreement reflects the intense competition for electricity, chips, and data center space in the AI industry.