Anthropic has reached a $9.1 billion AI compute power agreement with Riot

BlockBeats News, August 11th, according to Bloomberg, sources revealed that Anthropic has reached a $9.1 billion AI data center hash rate agreement with Bitcoin mining firm Riot Platforms to meet Claude users' growing hash rate demands.

Riot disclosed on Monday that the company will provide a 191MW hash rate to an AI developer at its Rockdale campus in Texas under a 20-year contract. Sources mentioned that the customer is indeed Anthropic. Riot stated that the contract will run until June 2048, expected to generate $9.1 billion in revenue, and includes two options to extend for 5 years each. If fully exercised, the total contract revenue could reach up to $16.1 billion. Following the announcement, Riot's stock price surged 25% to $24.40 in after-hours trading, according to BIT (bit.com) market data.

Anthropic has recently signed several large-scale hash rate agreements. The company previously inked a $10 billion contract with infrastructure startup Volta Infra Holdings and agreed in May to purchase nearly $45 billion in hash rate from Musk's xAI to alleviate hash rate pressure from growing customer demand.

Riot, known for its Bitcoin mining operations, is now, like many crypto mining companies, shifting towards AI and cloud computing infrastructure businesses. The company also announced a hash rate construction agreement with AMD previously, with its second-quarter data center business contributing to revenue growth.