Anthropic signs 20-year $9B power deal with Riot

Anthropic has agreed to a 20-year purchase of 191 megawatts of capacity from Riot Platforms’ Rockdale, Texas campus, a deal Riot said is valued at about $9 billion and was announced Monday. The company identified Anthropic as the customer in a company release and named the Rockdale site as the source of the capacity.

Under the contract Riot will supply sustained power and site capacity to support Anthropic’s high-performance computing needs at Rockdale. The agreement covers two decades of supply from the existing campus infrastructure.

Earlier in July Anthropic signed a separate 20-year data-center lease with another Bitcoin-mining company, reported at roughly $19 billion. The two arrangements expand Anthropic’s access to long-term physical infrastructure and power outside the major cloud providers.

A number of publicly traded Bitcoin miners have offered or repurposed mining campuses for AI and dense compute workloads. Companies that have announced or signaled such activity include Bitdeer, CleanSpark, MARA Holdings, Core Scientific, Hut 8 and IREN. These operators control large electricity contracts and existing data-floor infrastructure that can be adapted for high-density computing.

Market response to the Riot announcement was mixed. Riot’s shares fell about 5.4% on the day of the announcement and rose more than 21% in overnight trading. The stock is up more than 50% year-to-date. Riot’s market capitalization is roughly $7.3 billion.

The Riot-Anthropic contract adds to a pattern of long-term infrastructure commitments by AI developers and firms that operate large-scale power and data facilities. The agreements are structured as multi-decade contracts to provide electricity and space for training and running large AI models.