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📣📣Breaking: Anthropic handed $RIOT a $9.1 billion AI compute deal.
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.
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.
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