Anthropic Reportedly Secures $9B Compute Deal with Bitcoin Miner Riot Platforms
Key Takeaways
- •Riot Platforms said it signed a 20-year agreement to provide 191 megawatts of capacity from its Rockdale, Texas, facility to a leading frontier AI company.
- •Bloomberg reported that Anthropic is the customer and that the deal is worth about $9 billion.
- •Anthropic previously agreed to a $19 billion, 20-year data center lease with Bitcoin miner TeraWulf on July 6.
- •The two reported agreements together amount to $28 billion in long-term infrastructure spending by Anthropic.
- •The report said Bitcoin miners are becoming attractive AI infrastructure partners because they already have power agreements and grid-connected facilities.
Anthropic Reportedly Secures $9B Compute Deal with Bitcoin Miner Riot Platforms
Anthropic has reportedly struck a $9 billion agreement with Bitcoin mining firm Riot Platforms, gaining access to 191 megawatts of computing capacity at the miner's Rockdale campus in Texas.
Riot Platforms announced on Monday that it had secured a 20-year agreement to supply 191 megawatts of capacity from its Rockdale, Texas, facility to a "leading frontier AI" company, according to a press release.
The customer is Anthropic, and the deal is valued at approximately $9 billion, Bloomberg reported on Monday, citing people familiar with the matter. Cointelegraph said it has approached both Anthropic and Riot for comment.
This would mark Anthropic's second major infrastructure agreement with a Bitcoin miner. On July 6, the AI company struck a $19 billion deal for a 20-year data center lease with Bitcoin mining firm TeraWulf. Together, the two agreements represent a combined $28 billion in committed infrastructure spending by Anthropic over multi-decade terms, underscoring the scale of compute capacity that frontier AI developers are locking in as competition among model providers intensifies.
The reported agreement adds Riot to a growing list of Bitcoin miners expanding into AI and high-performance computing, including Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8, and IREN. Bitcoin miners have become attractive infrastructure partners for AI companies because many already hold long-term power purchase agreements and operate facilities with grid connections capable of supporting dense computing workloads — assets that can take years to secure from scratch.
Riot's shares fell 5.4% during Monday trading but rose more than 21% in overnight sessions. The stock is up more than 53% year-to-date, according to Yahoo Finance data.
Riot ranks as the world's fourth-largest Bitcoin mining company by market capitalization, valued at approximately $7.33 billion, according to CompaniesMarketCap.
In a July 23 report shared with Cointelegraph, Bernstein stated that partnerships between AI companies and Bitcoin miners have become necessary to address the power crunch constraining AI data center development.