Anthropic Reaches $9.1 Billion AI Compute Power Agreement with Riot

BlockBeats News, August 11, according to Bloomberg, sources revealed that Anthropic has reached a $9.1 billion AI data center compute power agreement with Bitcoin mining company Riot Platforms to meet the growing compute power demand of Claude users. Riot disclosed on Monday that the company will provide 191MW of compute power to an AI developer at its Rockdale campus in Texas under a 20-year contract. Sources indicated that the client is Anthropic. Riot stated that the contract will last until June 2048, is expected to generate $9.1 billion in revenue, and includes two options to extend the contract by five years each. If fully executed, the total contract revenue could reach up to $16.1 billion. Following the announcement, Riot's stock price rose 25% in after-hours trading to $24.40. Anthropic has recently signed several large-scale compute power agreements. The company previously signed a $10 billion contract with infrastructure startup Volta Infra Holdings and agreed in May to procure nearly $45 billion in compute power from Elon Musk's xAI to alleviate the compute power pressure caused by growing customer demand. Riot, which previously focused on Bitcoin mining, is now transitioning to AI and cloud computing infrastructure businesses, similar to many other crypto mining companies. The company also announced another compute power construction agreement with AMD, and its data center business contributed to revenue growth in the second quarter. [Original Link]