compute deal

Riot Platforms, a Bitcoin miner, has secured a $9 billion, 20-year compute deal with AI firm Anthropic. This agreement positions Riot as an AI infrastructure provider, leasing 191 megawatts of power at its Texas campus to Anthropic. This strategic shift leverages Riot’s substantial power capacity and data center facilities, attracting investors by offering a pathway to capitalize on AI demand independent of Bitcoin price volatility. The move also aligns with a broader trend of Bitcoin miners diversifying into AI infrastructure due to declining mining profitability.