Riot Platforms Stock Surges on $9.1 Billion AI Data Center Deal

Riot Platforms' stock has surged after the company disclosed a long-term AI data center agreement. The deal, which is worth approximately $9.1 billion over its initial 20-year term, could change how investors value Riot as a Bitcoin miner.

The agreement includes a 191 megawatt lease and services contract with an unnamed leading frontier AI lab at Riot's Rockdale campus in Texas. According to the terms of the deal, Riot expects to generate approximately $9.1 billion in revenue over the initial term, which runs through June 2048.

The customer behind the agreement has been reported to be Anthropic, a developer of AI technology, although neither party has publicly confirmed this information.