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CNBC
Riot Platforms strikes deal with Anthropic as bitcoin miners shift focus to AI infrastructure
Riot Platforms has confirmed a major $9 billion, 20-year compute deal with Anthropic, enabling the firm to lease substantial power for AI infrastructure. This move signals a broader industry pivot as bitcoin miners respond to declining cryptocurrency prices and evolving market demands. The transition allows Riot to capitalize on the increasing need for computing power amidst a surge in AI applications, positioning itself favorably against other miners who are also shifting their strategies.
MonitorConfidence: HighMid term horizon
Published 11 Aug 2026, 17:55 UTC2 min read
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Summary
TL;DR
- Riot Platforms signs a significant $9 billion, 20-year deal with Anthropic.
- This deal allows Anthropic to utilize Riot's power capacity for AI processing.
- The transition reflects bitcoin miners adjusting to market changes post-crypto slump.
- Riot's pivot supports a growing trend of miners becoming AI infrastructure providers.
- Investor interest shifts from bitcoin mining to data center infrastructure viability.
Interesting facts
- Shares of Riot initially surged over 20% following the announcement.
- The new agreement is expected to generate $9.1 billion in revenue over 20 years.