Riot Platforms Inks $9.1B Deal with Anthropic for AI Data Centers

Riot Platforms has signed a 20-year lease for 191 megawatts of data center space with Anthropic, a frontier AI lab. The contract is worth $9.1 billion in revenue and represents one of the largest deals yet by a Bitcoin miner to shift towards AI infrastructure.

The partnership will provide top-density computing power from Riot's Texas locations, primarily for both AI training and inference. This move illustrates the trend among public Bitcoin miners to transition from hashrate to high-performance compute.

With this agreement, Anthropic can access the necessary computing resources for its massive efforts. The contract is reportedly the biggest turnaround yet by a Bitcoin miner towards AI infrastructure, with Riot's anticipated 2024 mining revenue potentially surpassed by $130 million annually.