Riot's $9.1B Deal Shifts Power from Bitcoin Mining to AI Workloads

Riot Platforms has signed a massive 20-year hosting deal with artificial intelligence leader Anthropic worth $9.1 billion.

The agreement marks a shift of power resources from conventional Bitcoin mining to high-performance AI workloads, making power capacity the last commodity in crypto market dynamics.

The lease applies to 191 megawatts of 'critical capacity' at Riot's Rockdale campus facility in Texas, with 96MW available by December 2027 and all 191 MW fully online for AI compute applications by June 2028.

Riot will provide hosting income and add pure hash-rate growth through this deal. Additionally, two five-year options could boost the contract value to $16.1 billion.