Via stockstotrade.com
Bitcoin miner Riot Platforms signs a 20-year contract to supply 191 megawatts of data center capacity to AI giant Anthropic, potentially generating up to $16.1 billion in total revenue.
Riot Platforms just pulled off the kind of pivot that makes MBA professors weep with joy. The Bitcoin mining company signed a 20-year deal to deliver 191 megawatts of data center capacity to Anthropic, the AI company behind the Claude family of models, at its Rockdale, Texas facility. The expected revenue: $9.1B over the initial term, with two five-year extension options that could push the total haul to roughly $16.1B.
At least one analyst is projecting a 55% upside for RIOT shares on the back of the deal, which represents one of the largest infrastructure commitments a Bitcoin miner has ever secured from an AI company.
From mining rigs to AI racks #
The contract, confirmed through Bloomberg reporting, will see Riot repurpose its existing Rockdale infrastructure to serve Anthropic’s growing appetite for compute power. This isn’t Riot’s first foray into high-performance computing, either. The company already has an AMD AI chip hosting agreement at the same facility with a potential capacity of up to 200 MW.
RIOT shares surged between 21% and 25% in premarket trading when the news broke. That’s on top of a roughly 60% gain the stock had already logged year-to-date before the announcement.
Why Anthropic needs the power #
Anthropic has been on a tear. The company, founded by former OpenAI researchers Dario and Daniela Amodei, has been racing to scale its Claude models and compete head-to-head with OpenAI’s GPT series and Google’s Gemini. The 191 MW that Riot is providing is roughly enough to power a small city, or in AI terms, a meaningful chunk of a large-scale training cluster.
The two five-year extension options baked into the contract suggest both parties expect demand for AI compute to persist well into the 2050s.
The broader miner-to-AI pipeline #
Riot isn’t the only Bitcoin miner eyeing the AI opportunity. The entire publicly traded mining sector has been exploring ways to monetize existing infrastructure for high-performance computing workloads. The thesis is simple: Bitcoin mining revenue fluctuates with Bitcoin’s price and the halving cycle, which cuts miner rewards roughly every four years. AI hosting contracts, by contrast, offer predictable, long-duration revenue streams that Wall Street can model with a lot more confidence.
The 55% upside projection from analysts reflects this re-rating potential. If Riot can demonstrate that its infrastructure has dual-use value, serving both Bitcoin mining and AI compute, it could command a valuation multiple closer to a data center REIT than a crypto miner.
For Riot specifically, the Rockdale facility has been a cornerstone of its operations for years. Adding the Anthropic contract alongside the existing AMD hosting agreement essentially turns Rockdale into a diversified compute campus rather than a single-purpose mining farm. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our