Riot Platforms Signs $9.1B AI Data Center Deal, Reportedly With Anthropic
Riot Platforms has signed a 20-year agreement to lease 191 megawatts of data center capacity at its Rockdale, Texas campus to an unnamed “leading frontier AI lab.” Bloomberg identified the customer as Anthropic, the developer of Claude.
The contract is expected to generate approximately $9.1 billion through June 2048. Two optional five-year extensions could increase its total value to $16.1 billion. Riot plans to deliver the first 96 MW by December 2027 and the full capacity by June 2028.
The former bitcoin miner has secured $573 million in interim financing from Morgan Stanley to fund initial development. Together with an earlier AMD agreement, Riot has now contracted 241 MW of capacity representing roughly $9.8 billion in long-term revenue.
Riot shares jumped more than 25% in after-hours trading to approximately $24.30 following the announcement.
The company separately reported a second-quarter net loss of $237.2 million despite revenue rising 14% year over year to $174.2 million. It ended the quarter with 11,380 bitcoin and $548.9 million in cash. $BTC
Riot Platforms has signed a 20-year agreement to lease 191 megawatts of data center capacity at its Rockdale, Texas campus to an unnamed “leading frontier AI lab.” Bloomberg identified the customer as Anthropic, the developer of Claude.
The contract is expected to generate approximately $9.1 billion through June 2048. Two optional five-year extensions could increase its total value to $16.1 billion. Riot plans to deliver the first 96 MW by December 2027 and the full capacity by June 2028.
The former bitcoin miner has secured $573 million in interim financing from Morgan Stanley to fund initial development. Together with an earlier AMD agreement, Riot has now contracted 241 MW of capacity representing roughly $9.8 billion in long-term revenue.
Riot shares jumped more than 25% in after-hours trading to approximately $24.30 following the announcement.
The company separately reported a second-quarter net loss of $237.2 million despite revenue rising 14% year over year to $174.2 million. It ended the quarter with 11,380 bitcoin and $548.9 million in cash. $BTC