Riot Secures $9.1B AI Deal with Anthropic

Riot Platforms has secured a massive deal with Anthropic, a leading frontier AI lab, to provide computing capacity for its artificial intelligence business. The 20-year agreement is worth up to $16.1 billion and covers 191 megawatts of critical IT capacity at Riot's Rockdale campus in Texas.

The contract has been valued at approximately $9.1 billion, with the potential for two optional five-year extensions that could lift total contract value to around $16.1 billion. The agreement is a significant milestone for Riot as it continues to transition from a pure-play bitcoin miner to an AI infrastructure provider.

Riot plans to deliver the facility in phases, with the first 96 megawatts scheduled for December 2027 and the full 191 megawatts expected online by June 2028. The company estimates that the contract will generate cumulative net operating income of between $7.3 billion and $8.2 billion during its initial term.