Riot Platforms has signed a deal to supply $9.1 billion worth of compute to Anthropic, Bloomberg reported Monday, citing people familiar with the matter, hours after the Bitcoin miner announced the agreement without naming the customer.
RIOT shares soared over 26% in the overnight session late Monday, with the stock emerging as the top trending ticker on Stocktwits at the time of writing.
Earlier in the day, Riot disclosed securing a 20-year deal to supply 191 megawatts of computing from its Rockdale, Texas, campus to a “leading frontier AI” company.
The company also reported second-quarter results, which showed that revenue increased 14% to $174.2 million. However, the company swung to a net loss of $237.2 million from a net profit of $219.4 million in the year-ago quarter.
The deal “builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget,” Riot Platforms CEO Jason Les said in its earnings statement.
“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 two of the most important companies in the AI ecosystem.”
AI Labs Contract Former Crypto Miners For Cloud
The reported Anthropic deal is the latest in a series of partnerships between AI developers and former Bitcoin miners, which are increasingly using their power capacity, land and cooling infrastructure to support high-performance computing.
