Riot Platforms has secured a $9.1 billion, 20-year deal, reportedly with the AI giant.

  • Riot Platforms will supply 191 megawatts of computing from its Rockdale, Texas, campus.
  • Riot reports Q2 revenue increased 14% to $174.2 million.
  • The retail sentiment for RIOT shifted to ‘extremely bullish’ from ‘bullish.’

Riot Platforms has signed a deal to supply $9.1 billion worth of compute to Anthropic, Bloomberg reported Monday, citing people familiar with the matter, hours after the Bitcoin miner announced the agreement without naming the customer.

RIOT shares soared over 26% in the overnight session late Monday, with the stock emerging as the top trending ticker on Stocktwits at the time of writing.

Earlier in the day, Riot disclosed securing a 20-year deal to supply 191 megawatts of computing from its Rockdale, Texas, campus to a “leading frontier AI” company. 

The company also reported second-quarter results, which showed that revenue increased 14% to $174.2 million. However, the company swung to a net loss of $237.2 million from a net profit of $219.4 million in the year-ago quarter.

The deal “builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget,” Riot Platforms CEO Jason Les said in its earnings statement. 

“In just over six months, Riot has now executed leases totaling 241 megawatts of capacity, representing approximately $9.8 billion of long-term, contracted revenue with two of the most important companies in the AI ecosystem.”

AI Labs Contract Former Crypto Miners For Cloud 

The reported Anthropic deal is the latest in a series of partnerships between AI developers and former Bitcoin miners, which are increasingly using their power capacity, land and cooling infrastructure to support high-performance computing.

These deals are typically structured as long-term hosting or lease agreements, with headline values reflecting committed spending over several years.

Anthropic's track record has been one of aggressive capacity procurement across multiple providers. It majorly relies on Amazon Web Services (AWS), Google Cloud, Microsoft Azure, and CoreWeave. Top cloud vendors for rival OpenAI are Microsoft Azure, Oracle Cloud, AWS, CoreWeave, and Google Cloud.

RIOT’s Pivot To Data Centers

Riot Platforms began its shift from Bitcoin mining toward AI data centers in 2025, launching a formal process to monetize its power and infrastructure for high-density computing, and signed its first major lease with AMD in January 2026. 

The pivot reflects miners’ efforts to generate more predictable, higher-value revenue from scarce power and data-center assets as AI demand surges, with peers including Core Scientific, IREN, Applied Digital, TeraWulf, and Hut 8 pursuing similar AI and HPC (high performance computing) strategies.

On Stocktwits, retail sentiment for RIOT shifted to ‘extremely bullish’ from ‘bullish’ the previous day. “$RIOT I would be very surprised if we don’t witness some further upwards revisions by some on the analysts on the call and others,” said a trader.

RIOT stock is up 53% year to date as of its last close.

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