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Riot Platforms strikes deal with Anthropic as bitcoin miners shift focus to AI infrastructure
Bitcoin miner Riot Platform has struck a $9 billion, 20-year compute deal with Anthropic
TL;DR
- Riot Platform has signed a 20-year, $9 billion compute deal with Anthropic.
- The agreement involves leasing 191 megawatts at Riot's Rockdale, Texas campus.
- This deal shifts Riot's focus from bitcoin mining to AI infrastructure.
- The contract is expected to generate $9.1 billion in revenue over 20 years, potentially rising to $16.1 billion with extensions.
- This move aligns with a trend of bitcoin miners leveraging their power capacity and data center assets for AI companies.
- The scarcity of grid-connected power and AI demand is increasing the strategic value of such infrastructure.
- Analysts view this pivot as a way for investors to gain exposure to AI demand without betting on specific AI models.