- Riot plans to bring 191MW of Rockdale capacity online in stages for Anthropic, with the full buildout scheduled for June 2028.
- The agreement gives Riot 241MW of signed capacity and roughly US$9.8 billion (AU$13.92 billion) in contracted data centre revenue with two tenants.
- The deal highlights the growing move by Bitcoin miners into AI infrastructure, with several major mining companies pursuing similar opportunities.
Riot Platforms is moving further into AI infrastructure after agreeing to supply 191 megawatts of capacity from its Rockdale, Texas, campus to Anthropic under a 20-year arrangement reportedly worth about US$9 billion (AU$12.78 billion). The deal is expected to deliver US$9.1 billion (AU$12.92 billion) in revenue over its initial term.
Riot’s agreement extends through June 2048, while two five-year renewal options could increase its total value to US$16.1 billion (AU$22.86 billion). The company plans a staged rollout, with 96 megawatts expected online by December 2027 and the entire 191-megawatt capacity targeted for June 2028. Riot has secured US$573 million (AU$813.66 million) in interim financing from Morgan Stanley for the project’s early construction work.
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Bitcoin Miners Chase AI Demand
The Anthropic contract adds to an existing agreement with Advanced Micro Devices, giving Riot 241 megawatts of signed capacity and about US$9.8 billion (AU$13.92 billion) in contracted data centre revenue across the two tenants. The development comes as Bitcoin miners increasingly explore AI and high-performance computing, using their power and data centre assets as demand for computing capacity rises.
TeraWulf, Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8 and IREN are among the other miners pursuing AI-related opportunities. Anthropic also agreed to a separate US$19 billion (AU$26.98 billion) 20-year data centre lease with TeraWulf in July.
Riot’s stock initially climbed more than 20% after the agreement emerged, following a 5.46% decline before the announcement.
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