Riot Powers Anthropic’s AI Expansion with Record-Breaking Deal

Riot Platforms has inked a massive deal to provide computing capacity to Anthropic, one of the leading frontier AI labs. The contract, valued at up to $16.1 billion over 20 years, will see Riot deliver 191 megawatts of critical IT capacity at its Rockdale campus in Texas by June 2028.

The agreement marks a significant pivot for Riot from being a pure-play bitcoin miner to an AI infrastructure provider. The company plans to deliver the facility in phases, with the first 96 MW expected online by December 2027. Anthropic will take advantage of this vast computing capacity to support its rapidly expanding artificial intelligence business.

Riot expects the deal to generate around $9.1 billion in revenue over its initial term, with cumulative net operating income estimated between $7.3 billion and $8.2 billion. This transformation has already begun to show results for Riot, which saw data-center revenue rise to $23.2 million in the second quarter while bitcoin mining revenue fell to $113.7 million.