Anthropic signed a 20-year, $9.1 billion compute agreement with Bitcoin miner Riot Platforms, securing 191 megawatts of capacity at Riot's Rockdale, Texas campus. Two five-year extension options could push the total contract value to $16.1 billion.
Deployment starts in December 2027, with full buildout targeted for June 2028. Riot expects the deal to generate $7.3-8.2 billion in cumulative net operating income, and it complements an existing AMD chip lease, bringing the site's total contracted AI capacity to 241 megawatts. Riot shares jumped more than 20% in pre-market trading after the announcement.
The agreement gives Anthropic access to scarce, grid-connected power as AI compute demand surges, while Riot pivots from volatile Bitcoin-mining revenue to steadier long-term infrastructure leases -- one of the clearest signs yet that crypto miners are repositioning as AI data center landlords.