Riot Platforms Surges on Reported $9.1 Billion Anthropic AI Deal
Riot Platforms built its business around bitcoin mining, but its large power portfolio and data-center infrastructure have also positioned it to pursue energy-intensive artificial intelligence computing. A deal with Anthropic would mark a significant step in that diversification, potentially giving Riot a major source of contracted revenue beyond cryptocurrency while underscoring a broader shift by miners toward AI and high-performance computing workloads.
Riot has reportedly signed an AI partnership worth as much as $9.1 billion with Anthropic, according to an Aug. 11, 2026 report. The agreement is said to include two five-year extension options that could lift its total potential value to $16.1 billion. Riot shares jumped as much as 25% in after-hours trading following the report, though the companies had yet to publicly confirm the detailed terms.
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The history behind this eventRiot Platforms Expands AMD Deal, Accelerating Pivot to AI Data Centers
Riot Platforms, traditionally focused on Bitcoin mining, signed its first data-center lease at its Rockdale, Texas, site with AMD on January 16, 2026. The initial agreement covered 25 MW and was expected to generate about $311 million in revenue over 10 years. Redirecting existing power and facilities toward AI and high-performance computing marked a key step in reducing Riot’s dependence on volatile mining conditions.
Riot said on April 30, 2026, that AMD had exercised an option for another 25 MW, doubling contracted capacity to 50 MW. The agreement allows for a further 100 MW expansion, potentially bringing the total to 150 MW, with estimated 10-year contract revenue of about $636 million. Riot reported first-quarter data-center revenue of $33.2 million, and its shares rose about 8% on May 1 following the announcement.
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