Riot Platforms Secures Record-Breaking $9B Deal with AI Giant Anthropic

Riot Platforms has secured a massive deal with Anthropic, an AI company behind the Claude family of models. The Bitcoin mining company will deliver 191 megawatts of data center capacity to Anthropic at its Rockdale, Texas facility over a 20-year period. This agreement is expected to generate $9.1B in revenue for Riot Platforms over the initial term, with two five-year extension options that could push the total haul to roughly $16.1B.

The deal represents one of the largest infrastructure commitments a Bitcoin miner has ever secured from an AI company. At least one analyst is projecting a 55% upside for RIOT shares on the back of this deal, which reflects the potential re-rating of Riot's valuation as a dual-use platform for both Bitcoin mining and AI computing.

Riot Platforms already has an existing agreement with AMD to host high-performance computing workloads at the same facility. The company is repurposing its infrastructure to meet Anthropic's growing demand for compute power, which is roughly enough to power a small city or a large-scale training cluster in AI terms.