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Riot Platforms signs $9.1B AI data center deal with Anthropic
Riot Platforms, a Bitcoin mining company, has entered into a 20-year data center lease agreement with Anthropic, the developer of the Claude AI model. The deal, centered at Riot’s Rockdale campus in Texas, involves providing 191 megawatts of critical IT computing capacity.
The agreement is expected to generate approximately $9.1 billion in revenue over its initial term. The contract includes two five-year extension options that could potentially increase the total value to $16.1 billion. Deployment will occur in stages, with the first 96 megawatts scheduled to be operational by December 2027 and the full capacity expected by June 2028.
To support the project, Riot secured $573 million in financing from Morgan Stanley. This strategic move marks a significant pivot for Riot as it diversifies its business model from pure Bitcoin mining toward providing high-performance computing infrastructure for the artificial intelligence sector. Following the news, Riot’s shares saw a significant surge in after-hours trading.
Entities
AMD · Anthropic · Jason Les · Morgan Stanley · Riot Platforms · Rockdale, Texas
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 12 SOURCES] The customer in the agreement is Anthropic. koinbulteni.com · newsbit.nl · www.businesstimes.com.sg · coinpaper.com · www.crypto-insiders.nl · +7 more
- [● 13 SOURCES] The contract includes two five-year extension options that could increase total revenue to $16.1 billion. koinbulteni.com · newsbit.nl · www.businesstimes.com.sg · coinpaper.com · www.crypto-insiders.nl · +8 more
- [● 13 SOURCES] The first 96 megawatts of capacity are expected to be operational by December 2027, with the full 191 megawatts ready by June 2028. koinbulteni.com · newsbit.nl · www.businesstimes.com.sg · coinpaper.com · www.crypto-insiders.nl · +8 more
- [● 8 SOURCES] Riot Platforms signed a 20-year data center lease for 191 megawatts of capacity at its Rockdale, Texas, campus. koinbulteni.com · www.businesstimes.com.sg · coinpaper.com · crypto.news · www.riotplatforms.com · +3 more
- [● 4 SOURCES] Morgan Stanley provided $573 million in financing to support the initial stages of the project. koinbulteni.com · crypto.news · www.crypto-insiders.nl · www.clubic.com
- [● 13 SOURCES] The contract is expected to generate $9.1 billion in revenue over its initial 20-year term. koinbulteni.com · newsbit.nl · www.businesstimes.com.sg · coinpaper.com · www.crypto-insiders.nl · +8 more
- [● 8 SOURCES] Riot Platforms shares rose approximately 25% in after-hours trading following the announcement. koinbulteni.com · newsbit.nl · www.businesstimes.com.sg · coinpaper.com · www.crypto-insiders.nl · +3 more