Riot Platforms Signs $9.1B Data Center Deal with Anthropic

Bitcoin miner Riot Platforms has entered into a 20-year data center agreement with artificial intelligence company Anthropic, in a deal expected to generate approximately $9.1 billion in revenue over its initial term. The agreement, announced alongside Riot's second-quarter financial results, covers 191 megawatts of computing capacity at Riot's Rockdale campus in Texas.

The deal marks a significant strategic pivot for Riot, traditionally focused on Bitcoin mining, toward becoming a major operator of infrastructure for AI workloads. Under the terms, Anthropic, the developer of the Claude AI models, will secure dedicated power for high-performance computing. Delivery will be phased, with the first 96 megawatts targeted for December 2027 and the full 191 megawatts online by June 2028. The contract runs through June 2048 and includes two five-year extension options that could raise the total potential value to $16.1 billion.

Riot Platforms CEO Jason Les highlighted the company's rapid expansion into this new sector. "In just over six months, Riot has now executed leases totaling 241 megawatts of capacity, representing approximately $9.8 billion of long-term, contracted revenue with...