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Riot Platforms jumps premarket on $9.1B Anthropic computing deal

The 20-year agreement supplies 191 megawatts of capacity at Riot’s Rockdale, Texas, site, with two five-year extension options that could raise total contract value to $16.1 billion.

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CoinDesk reports Riot Platforms’ shares jumped more than 20% in premarket trading after the bitcoin miner signed a $9.1 billion, 20-year deal to provide Anthropic with computing resources for AI.

The agreement would deliver 191 megawatts of computing capacity at Riot’s Rockdale, Texas, campus, with two five-year extension options that could increase total contract revenue to $16.1 billion. Riot said deployment begins in December 2027, with full buildout expected by June 2028.

CoinDesk says the long-term contract underscores a broader industry pivot from bitcoin mining toward AI infrastructure, supported by miners’ existing power-rich data center sites and faster ability to serve new AI demand. Riot expects the base term to generate between $7.3 billion and $8.2 billion in cumulative net operating income.

The deal also follows Riot’s lease with chipmaker Advanced Micro Devices, which brings contracted AI capacity at Rockdale to 241 megawatts, after Riot delivered 25 megawatts in the second quarter and is building an additional 25 megawatts. In the quarter, revenue rose 14% to $174.2 million, while bitcoin-mining revenue fell to $113.7 million as lower bitcoin prices and rising competition offset increased production.

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