Riot Platforms Secures $9B Deal with Anthropic for Computing Power

Riot Platforms has secured a major deal to supply computing power to Anthropic, a leading frontier AI company. The agreement is valued at around $9 billion and spans 20 years, according to Bloomberg's report.

The deal includes Riot supplying 191 megawatts of capacity from its Rockdale, Texas campus to Anthropic. This move adds Riot to the growing list of Bitcoin miners expanding into AI and high-performance computing. Other companies in this space include Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8, and IREN.

Riot's shares initially fell 5.4% on Monday but rose over 21% in overnight trading, indicating market anticipation for the deal. The company has a $7.33 billion market capitalization, making it the world's fourth-largest Bitcoin mining company.