Riot Platforms stock closed down 5.46% on Monday before rocketing more than 25% in after-hours trading to $24.40, after the company revealed a massive data center lease agreement.
Riot disclosed the deal without naming its customer, describing them only as a “leading frontier AI lab.” Bloomberg later reported the customer is Anthropic, the company behind Claude.
The agreement covers 191 megawatts of IT capacity at Riot’s Rockdale campus in Texas. The contract runs through June 2048 and is expected to generate $9.1 billion in revenue for Riot over that period.
Anthropic Strikes $9.1 Billion Compute Deal With Bitcoin Miner Riot
Anthropic has struck a 20-year, $9.1 billion data-center deal with Riot Platforms to secure 191 MW of computing capacity at Riot’s Rockdale campus in Texas, as the Claude maker races to lock in infrastructure… pic.twitter.com/Ou719CgJCw
— Wu Blockchain (@WuBlockchain) August 11, 2026
Delivery will be phased. The first 96 megawatts are targeted for December 2027, with the full 191 megawatts online by June 2028.
Two five-year extension options are included, which could push the total contract value as high as $16.1 billion.
To fund initial development costs, Riot secured a $573 million interim financing facility from Morgan Stanley while it finalises a long-term credit backstop.
This is not Riot’s first major AI infrastructure agreement this year. The company signed a deal with AMD back in January covering 50 megawatts of capacity.
“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,” CEO Jason Les said.
Les said Riot’s edge comes from its multi-gigawatt-scale power capacity, in-house data center expertise, and ability to build custom infrastructure for demanding workloads.
The deal also reflects Anthropic’s push to lock in computing infrastructure. Bloomberg reported the company has signed several large deals recently, including a $10 billion agreement with Volta Infra Holdings and a deal in May to purchase nearly $45 billion in computing from xAI.
Riot also reported its Q2 results alongside the deal announcement. Total revenue came in at $174.2 million, a 14% increase from $153 million in the same period last year.
Bitcoin mining revenue was $113.7 million. Engineering revenue rose to $37.3 million. Data center revenue contributed $23.2 million, reflecting the initial 25 megawatt delivery to AMD.
The company produced 1,587 bitcoin during the quarter and ended the period with over $1.2 billion in liquid assets, including 11,380 bitcoin and $548.9 million in cash.
Net loss for the quarter was $237.2 million, or $0.68 per diluted share. That compares to net income of $219.5 million, or $0.58 per share, in Q2 2025.
Riot said the Anthropic data center agreement helped drive its Q2 revenue above analyst estimates.
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