Riot Platform, a Bitcoin mining company, has announced a significant new deal valued at $9 billion over 20 years with Anthropic.
The agreement involves leasing 191 megawatts at Riot’s Rockdale, Texas, campus, providing Anthropic access to essential grid-connected power amid rising demand for computing resources used in artificial intelligence.
This move marks a shift for Riot from solely Bitcoin mining to becoming an AI infrastructure provider.
Shares initially jumped over 20% on the news but later retraced most of those gains.
The deal is projected to generate approximately $9.1 billion in revenue over its 20-year span, with potential growth to about $16.1 billion if extended for two additional five-year periods.
This agreement complements Riot’s existing partnership with AMD, making their campus a two-tenant facility with a combined contracted revenue of $9.8 billion from data center operations.
Source (CNBC)
