Riot Platforms stock jumps 25% after-hours on $9.1 billion AI deal reportedly with Anthropic
The deal includes two five-year extension options that could raise the potential contract value to $16.1 billion.
Riot Platforms saw its stock surge approximately 25% in after-hours trading following reports of a landmark $9.1 billion artificial intelligence infrastructure deal with AI safety company Anthropic. The agreement, first reported by The Block, positions the Bitcoin mining firm as a major provider of computing resources to one of the most prominent players in the generative AI sector.
The deal carries significant long-term upside, featuring two five-year extension options that could bring the total potential contract value to $16.1 billion. Riot Platforms, which operates large-scale data center and mining facilities across the United States, has been among several crypto mining companies exploring ways to repurpose or expand their infrastructure to serve the growing demand for AI computing power.
The reported agreement reflects a broader trend in which Bitcoin miners are increasingly pivoting toward high-performance computing and AI workloads to diversify revenue streams. As cryptocurrency mining margins remain sensitive to Bitcoin price fluctuations and energy costs, securing long-term contracts with major AI firms offers a more predictable income model and has attracted considerable investor attention across the sector.
Observers will be watching for official confirmation from both Riot Platforms and Anthropic, as well as further details on the operational timeline and infrastructure commitments involved. How competitors in the mining-to-AI transition space respond to this development will also be closely monitored in the coming weeks.
Source: The Block
