Anthropic Strikes $9.1B Power Deal With Riot Platforms for AI Data Center Capacity
AI Market Summary
Riot Platforms' $9.1B, 20-year 191MW compute contract (reportedly with Anthropic) underscores accelerating AI-driven demand for power and data center capacity, and highlights miners' shift toward higher-visibility infrastructure revenue. The sharp after-hours rally reflects improved earnings durability and reduced reliance on Bitcoin cycle volatility. The deal also signals intensifying competition for scalable compute, with potential read-through to adjacent AI and crypto-mining infrastructure names.
Impact level
● Medium
AI InsightAI Insight
▲ Bullish
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Aug. 11 — Anthropic has reached a $9.1 billion agreement for AI data center capacity with Bitcoin miner Riot Platforms, aiming to support rising compute demand from users of its Claude models, Bloomberg reported, citing people familiar with the matter.
Riot said Monday it will supply 191 MW of computing power to an AI developer at its Rockdale, Texas campus under a 20-year contract. Sources identified the customer as Anthropic.
The agreement runs through June 2048 and is expected to generate $9.1 billion in revenue, Riot said. The contract includes two separate five-year extension options that could lift the total value to as much as $16.1 billion if fully exercised.
Following the announcement, BIT (bit.com) market data showed Riot shares jumped 25% in after-hours trading to $24.40.
Anthropic has recently signed multiple large compute deals. The company previously entered a $10 billion contract with infrastructure startup Volta Infra Holdings and, in May, agreed to buy nearly $45 billion in computing power from Elon Musk's xAI to ease capacity constraints tied to growing customer demand.
Riot, long centered on Bitcoin mining, has been pivoting toward AI and cloud computing infrastructure, mirroring moves by other crypto miners. The company has also disclosed a separate computing power agreement with AMD, and its data center business helped drive revenue growth in the second quarter.
