Anthropic signs $9.1B compute deal with Riot Platforms for 191MW over 20 years
On August 10 Riot disclosed a 191MW 20-year lease with an unnamed frontier AI company, identified by Bloomberg and others as Anthropic, with extension value up to $16.1B.
On August 11, Bloomberg and other media reported that Anthropic PBC has signed a $9.1 billion compute deal with Bitcoin miner Riot Platforms Inc.
Riot disclosed on August 10 local time a 20-year agreement to provide 191 megawatts of compute capacity at its Texas Rockdale campus to an unnamed leading frontier AI company. Sources identified the company as Anthropic. Riot shares jumped 25% to $24.40 in after-hours trading following the news.
The initial 20-year contract is valued at around $9.1 billion, running through June 2048. Exercising two five-year extension options would bring the total to up to $16.1 billion. The first 96 IT megawatts are expected to be delivered by December 2027, with all 191 IT megawatts online by June 2028. The project will use Rockdale's existing and fully approved grid connection, requiring no new application.
This is Riot's second lease at Rockdale. The previous one with AMD delivered the first 25 megawatts on time and on budget in Q2. The two leases together cover 241 megawatts and approximately $9.8 billion in long-term contract revenue.
Anthropic previously signed a $10 billion cloud deal with infrastructure startup Volta Infra Holdings and in May agreed to purchase nearly $45 billion in compute from Elon Musk's xAI. Together the three deals exceed $60 billion, underscoring Claude's builder's aggressive compute procurement posture. After its $65 billion Series H in May, Anthropic is valued at $965 billion and has confidentially filed an S-1 draft with the SEC, with the market widely expecting an October 2026 listing.