Anthropic Signs $9.1 Billion Cloud-Computing Deal With Bitcoin Miner Riot Platforms

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Anthropic has signed a long-term cloud-computing supply agreement worth $9.1 billion with Riot Platforms, the Bitcoin miner.

Bloomberg reported on Aug. 10 that Anthropic struck the deal with Riot.

The contract runs through June 2048, or roughly 20 years. With two five-year extension options, the agreement could generate as much as $16.1 billion in revenue.

Earlier on Aug. 10, Riot said in a filing that it had signed a deal to supply 191 megawatts of computing capacity at its Rockdale, Texas, campus to a “leading frontier AI company.” Bloomberg, citing people familiar with the matter, identified that company as Anthropic. Riot shares later surged 25% in after-hours trading to $24.40.

Anthropic has been accelerating efforts to secure computing infrastructure as demand for AI services jumps. Several months ago, it signed a $10 billion agreement with infrastructure startup Volta Infra Holdings. In May, it also agreed to purchase about $45 billion of computing resources from Elon Musk’s xAI.

Riot originally made biotech diagnostic equipment under the name Bioptix before shifting into Bitcoin mining. More recently, it has expanded into cloud computing to tap the AI boom and has also signed a separate deal with AMD to build computing infrastructure.