Riot Platforms Shares Soar on Massive AI Lease Deal

Riot Platforms saw its shares jump over 20% in premarket trading after reports surfaced that Anthropic is behind a $9.1 billion, 20-year deal to lease AI computing capacity at Riot's Texas Bitcoin mining campus.

The announcement was made by Riot Platforms on Monday, but the tenant was not revealed at the time, being referred to only as an 'undisclosed party'.

This deal highlights the trend of miners diversifying into AI compute and could have a significant impact on Riot's revenue and mining operations.