Riot Platforms

Anthropic struck a $9.1 billion deal with bitcoin miner Riot Platforms for AI computing. The agreement details a 20-year lease covering 191 megawatts of computing capacity at Riot's Rockdale campus in Texas, which runs through June 2048.

Riot Platforms saw a 20% surge in its pre-market trading. This financial movement was driven by news related to an apparent $9.1 billion deal involving Anthropic.

Riot Platforms stock jumped 25% after-hours following reports of a $9.1 billion AI deal with Anthropic. The reported agreement includes two five-year extension options, which could potentially raise the total contract value to $16.1 billion.

JPMorgan analysts state Bitcoin has traded below its estimated $78,000 production cost for five consecutive months, causing roughly 20% of miners to operate unprofitably. Publicly listed miners sold a record 32,000 bitcoin in Q1 2026 to fund operations, with mining difficulty and hashrate showing heightened sensitivity to price declines.

Riot Platforms reported $167.2 million in Q1 2026 revenue, with its new data center business contributing $33.2 million as Bitcoin mining income declined.

Riot Platforms' stock increased as the Bitcoin mining company reported its first data center revenue from pivoting to AI infrastructure hosting, with AMD expanding its capacity. The company's partnership with AMD has doubled, contributing to the revenue growth.

Riot Platforms generated $33 million in first-quarter data center revenue, primarily from lower-margin fit-out projects, while AMD expanded its contracted capacity by doubling its commitment. Recurring leases contributed less significantly to the revenue.

Bitcoin surged today, with mining stocks like Cleanspark, Riot Platforms, and Keel Infrastructure rising about 5%, while Strategy stock climbed 10%. The article questions whether to invest in Bitcoin mining stocks transitioning to AI data centers or in Strategy, noting Strategy's potential but uncertainty about the mining stocks.