The most valuable thing for mining firms isn’t the mining rigs—it’s POWER.⚡️

Hundreds of MW of power already connected to the grid + land + substations + fiber optics—this is the truly scarce asset in the AI compute shortage era.

Previously: using electricity to mine BTC.

Now: feeding it electricity to run the model.

PANews, August 11: According to a report from Jiuqiong, insiders revealed that Anthropic PBC has entered into a $9.1 billion agreement with Riot Platforms Inc. Riot is a bitcoin mining company that has recently also started selling AI data center compute capacity.

Riot disclosed earlier on Monday that it has reached a 20-year agreement to supply 191 megawatts of power capacity from its facility in Rockdale, Texas, to a “leading frontier AI company.” Insiders said the company is Anthropic.

The arms race in the field of artificial intelligence is pushing deeper into compute infrastructure. According to people familiar with the matter, Anthropic, an AI company, has recently signed a landmark compute deal worth as much as $9.1 billion with Riot Platforms Inc., a cloud computing company that emerged from the transition of bitcoin mining businesses.

As an important step in its business transformation, Riot Platforms Inc. has previously formally moved into AI data center computing capacity services. According to information it disclosed, the two sides have agreed on a 20-year deep cooperation agreement. Riot Platforms Inc. will, through its modernized facilities located in Rockdale, Texas, provide a total power capacity of 191 megawatts to support this leading AI company’s large-scale model compute needs.

The initial lease term runs through June 2048 and is expected to generate total contract revenue of about $9.1 billion. The agreement also includes two five-year renewal options; if all are exercised, the total potential value of the contract would reach approximately $16.1 billion.

The company expects that during the initial base lease period, its cumulative net operating income (NOI) will reach $7.3 billion to $8.2 billion, with an average annual NOI of approximately $365 million to $411 million. The first batch of 96 megawatts of IT capacity is expected to be delivered in December 2027, and the full 191 megawatts will be completed in June 2028.

Morgan Stanley is providing $573 million in interim financing arrangements to cover initial development costs, while an investment-grade credit-backed financing plan is currently being finalized.

This agreement is Riot’s second tenant signing at the Rockdale campus. Previously, the company announced on January 16, 2026 that it had reached a lease agreement with U.S.-based Super Micro Computer, Inc. (AMD). Combined with the AMD lease, the company has currently signed key IT capacity totaling 241 megawatts.

Industry insiders say that as major AI model manufacturers increasingly compete for underlying computing power, converting traditional energy and high-performance power-park facilities of crypto mining firms into AI data centers is becoming a new industry trend for addressing computing bottlenecks. The massive 20-year cooperation not only provides long-term, stable computing capacity to support Anthropic’s technological iterations, but also signals that the integration of the AI industry with traditional energy infrastructure is accelerating.