Riot Platforms Surges on AI Data Center Deals

Riot Platforms Inc.'s stock has surged by 7.7% amid bullish sentiment on strengthening Bitcoin mining economics.

The company's Q2 2026 results showed a significant shift in focus from pure-play bitcoin mining to AI-focused data centers, with a 20-year, 191 MW lease tied to leading frontier AI lab Anthropic.

This deal adds to an earlier 25 MW lease with AMD, totaling 241 MW and approximately $9.8B in contracted revenue for Riot Platforms.

The company's pivot towards AI infrastructure is driven by soaring demand, with most public miners expected to derive a majority of their revenue from AI by year-end.