Anthropic Bets $9.1 Bn On Riot’s AI Data Centre Capacity To Meet Compute Demand

Anthropic has struck a $9.1-billion deal with Bitcoin mining company Riot Platforms to secure computing capacity for its artificial intelligence (AI) operations, according to a Bloomberg report. The agreement comes as the maker of Claude looks to expand its computing capacity to keep up with rising demand for its AI tools.

Riot said on Monday that it had signed a 20-year agreement to supply 191 megawatts of computing capacity from its Rockdale, Texas, campus to a “leading frontier AI” company. People familiar with the matter told the news agency that Anthropic is the customer. Riot expects the contract to generate $9.1 billion in revenue through June 2048.

Anthropic Steps Up Its Compute Hunt

The agreement gives Anthropic access to computing capacity equivalent to the power used by roughly 143,000 homes at any given time. Riot’s contract also includes two options to extend the agreement by five years each, which could take its total sales under the deal to as much as $16.1 billion.

Anthropic has been signing major infrastructure agreements as it works to secure enough computing power for its growing customer base. The company recently agreed to a $10-billion deal with infrastructure startup Volta Infra Holdings and had also agreed in May to purchase nearly $45 billion worth of computing from Elon Musk’s xAI.

The latest deal with Riot adds to a wider push by AI companies to secure long-term access to data-centre capacity. Demand for computing power has surged as businesses and consumers increasingly use AI tools, putting pressure on companies developing large-scale AI models.

Bitcoin Miners Make The AI Shift

Riot’s deal with Anthropic also highlights how cryptocurrency companies are increasingly looking towards AI data centres as another source of growth. Riot, which previously operated under the name Bioptix and made diagnostic machinery for the biotech industry, later shifted its business towards Bitcoin mining.

The company has more recently expanded into data-centre infrastructure. Riot has also announced a separate agreement with Advanced Micro Devices to build computing capacity.

The shift is already contributing to Riot’s business performance. The company beat sales expectations in the second quarter, with its data-centre business contributing to the stronger result.

For Anthropic, the deal provides a long-term source of computing capacity, while for Riot it offers a way to monetise its infrastructure beyond cryptocurrency mining.