Riot Secures $9B Deal with Anthropic Amid AI Infrastructure Push

Riot Platforms has signed a $9.1 billion deal with Anthropic to supply 191 megawatts of power from its Rockdale, Texas campus for artificial intelligence operations.

The agreement will run through June 2048 and is expected to generate $9.1 billion in revenue over its initial term, with two five-year extension options potentially lifting the contract's value to $16.1 billion.

This marks a significant shift for Riot Platforms as it expands into data center leasing and AI infrastructure, moving away from its traditional Bitcoin mining focus.

The deal has given Riot's shares a boost, jumping 16% in premarket trading on August 11, reflecting the size and duration of the new contract.