Anthropic strikes $9B compute deal with Bitcoin miner Riot: Report
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin mining company Riot Platforms announced a 20-year agreement to supply 191 megawatts of power from its Rockdale, Texas facility to the AI firm Anthropic. The deal is reportedly valued at about $9 billion, according to Bloomberg. This follows Anthropic’s prior $19 billion, 20-year data center lease with another Bitcoin miner, TeraWulf.
Why it matters
This development highlights a growing trend of Bitcoin miners expanding into supporting AI and high-performance computing infrastructure. According to a Bernstein report, partnerships like these are seen as necessary to manage the power demands restricting AI data centers.
Key context
Riot Platforms is currently the world’s fourth-largest Bitcoin mining company by market capitalization. Along with Riot and TeraWulf, other Bitcoin miners such as Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8, and IREN are increasingly engaging in deals with AI companies. Riot’s stock has experienced significant recent volatility but remains up over 53% year-to-date.
Key numbers and entities
The agreement involves Riot Platforms and Anthropic, valued around $9 billion for 20 years and 191 megawatts of power supply. Anthropic previously made a $19 billion, 20-year data center lease with TeraWulf. Riot has a market cap of approximately $7.33 billion. Riot shares fell 5.4% on Monday but rose more than 21% in overnight trading.
What remains unclear
The source notes that Cointelegraph has reached out to both Anthropic and Riot for comment but no official statements are presented in the article. Further terms or operational details of the agreements have not been disclosed.