Anthropic Signs $9.1 Billion Cloud Deal With Bitcoin Miner Riot Platforms
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Anthropic has signed a long-term cloud computing supply agreement with Bitcoin miner Riot Platforms valued at $9.1 billion.
Bloomberg reported on August 10 that Anthropic struck the deal with Riot Platforms.
The contract runs for about 20 years through June 2048. It also includes two five-year extension options that would raise total revenue under the agreement to as much as $16.1 billion.
Earlier on August 10, Riot said in a filing that it had agreed to provide 191 megawatts of computing capacity at its Rockdale, Texas, campus to a “leading frontier AI company.” Bloomberg, citing people familiar with the matter, identified the company as Anthropic. Riot shares surged 25% in after-hours trading to $24.40 after the announcement.
Anthropic has been racing to secure computing infrastructure as demand for AI services jumps. The company signed a $10 billion agreement with infrastructure startup Volta Infra Holdings a few months ago. In May, it also agreed to buy about $45 billion of computing resources from Elon Musk's xAI.
Riot originally made biotech diagnostic equipment under the name Bioptix before pivoting to Bitcoin mining. More recently, it has expanded into cloud computing to capitalize on the AI boom and has also signed a separate deal with AMD to build computing infrastructure.
