Bitcoin miner Riot Platforms announced a 20-year data center lease with Anthropic, expected to generate approximately $9 billion in revenue over the contract period. The agreement covers 191 megawatts of IT capacity at Riot’s Texas campus, with phased implementation reaching 96 megawatts by December 2027 and full capacity by 2028. Riot shares surged 25% in after-hours trading, climbing from $19 to $24.30, as investors reacted positively to this major AI sector expansion. The company reported a wider-than-expected GAAP net loss of $237 million in Q2 2026, driven by noncash charges tied to Bitcoin holdings and depreciation. The new AI venture contributing $23 million in revenue could enable Riot to reduce Bitcoin selling during downturns, easing selling pressure on the cryptocurrency market.
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