US Markets
Home›US Markets›M&A & Deals›Riot signs a $9.1 billion, 20-year deal with Anthropic…
Riot signs a $9.1 billion, 20-year deal with Anthropic for computing
The lease, tied to Riot’s Rockdale, Texas campus, could expand to $16.1 billion if extended, reinforcing the miner’s pivot toward long term AI data center contracts.
Riot Platforms has signed a 20-year computing deal with Anthropic worth $9.1 billion, leasing 191 megawatts of power at its Rockdale, Texas campus, with the potential to grow to $16.1 billion if the agreement is extended twice for five years each. The agreement is expected to generate $9.1 billion in revenue over the contract term, and it arrives as Riot and rival bitcoin miner CleanSpark are shifting from bitcoin mining toward renting out power and data center space to AI companies. Yahoo Finance reports Riot shares initially rose more than 20% after the news, then gave back most of the gain, a move that suggests investor enthusiasm cooled quickly. Analysts pointed to the Rockdale site as a multi-tenant data center setup with substantial contracted revenue. In addition to the Anthropic deal, Riot previously signed a separate arrangement with AMD that helped create what Compass Point analyst Michael Donovan described as a two-tenant campus carrying $9.8 billion of contracted data center revenue. Riot also reported second-quarter revenue of $174.2 million, above the $154.3 million analysts modeled, helped by its data center business.
Latest closeBitcoin $77,141.09 ▼1.5%