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Riot Platforms stock surges on $9.1 billion data center deal with Anthropic

Publicado hace un día 1 min de lectura
Riot Platforms stock surges on $9.1 billion data center deal with Anthropic

Riot Platforms stock surges on $9.1 billion data center deal with Anthropic Yahoo Finance

What happened: Riot Platforms (RIOT) stock surged 9% in early trading on Tuesday.

What's behind the move: The bitcoin mining company, which has pivoted toward selling data center capacity, signed a deal with a major AI developer, widely reported to be Anthropic (ANTH.PVT), in a transaction valued at $9.1 billion.

"Today's announcement of a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers," Riot CEO Jason Les said in the company's earnings release.

Riot also reported second quarter revenue of $174 million, up 14% year over year, driven by growth in its data center and engineering businesses.

20.47 +1.07 (+5.49%)

As of 10:26:13 AM EDT. Market Open.

What else you need to know: Riot Platforms and other bitcoin miners have increasingly leaned into leasing data center capacity as the crypto industry navigates a "winter" and demand for computing power has skyrocketed.

In January of this year, Riot announced its first major deal with AMD (AMD) at its campus in Rockdale, Texas.

Year-to-date, Riot stock is up 37%.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.

Click here for in-depth analysis of the latest stock market news and events moving stock prices

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Attribution

Originally reported by Yahoo Finance

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