Riot Platforms’ stock climbed 25% in after-hours trading on reports of a $9.1 billion deal tied to artificial intelligence infrastructure. The Block reported the figure and said the agreement was reportedly linked to Anthropic, the AI company behind the Claude chatbot.
Riot Platforms is best known as one of the largest publicly traded bitcoin mining companies in the United States. The firm operates large-scale data center facilities originally built to run specialized hardware for mining digital assets.
Over the past two years, several bitcoin miners have explored ways to repurpose that infrastructure. Power contracts, cooling systems and data center real estate built for mining can, in some cases, be adapted to support high-performance computing workloads, including AI training and inference.
The reported scale of the deal, $9.1 billion, would represent a significant sum for a company whose business has historically centered on bitcoin production. If accurate, it would mark one of the larger AI-infrastructure agreements attributed to a crypto-mining firm to date.
Anthropic has emerged as one of the most well-funded AI companies globally, competing with OpenAI and other developers of large language models. Companies building and training such models require substantial computing capacity, often sourced through long-term infrastructure agreements with data center operators or energy-rich facility owners.
The report has not yet been confirmed by Riot Platforms, Anthropic, or other news outlets. Details such as the structure of the agreement, its timeline, or which specific facilities might be involved were not included in the initial report. Investors reacted to the headline figure itself, sending shares sharply higher in extended trading before regular market hours resumed.
This is not the first instance of a bitcoin miner’s stock reacting strongly to AI-related news. Several mining companies have seen valuations swing on speculation about pivots toward AI and cloud computing, as investors weigh whether such moves could diversify revenue away from bitcoin’s volatile mining economics.
The scale of the reported figure, if verified, would place Riot Platforms among a small group of companies attributing multibillion-dollar contracts to AI infrastructure demand. Markets have shown a pattern of pricing in such deals quickly, sometimes before full details or formal confirmation become available.
As with any single, unconfirmed report involving a specific dollar figure and a named counterparty, readers should treat the details as preliminary. Official statements from Riot Platforms or Anthropic, along with regulatory filings, would typically be needed to substantiate the terms described in the initial report.
Sources disagree on this story
This article was published before the reports below were compared. The reporting above stands; what follows is where the published accounts do not agree.
Coverage of Riot Platforms' $9.1B Anthropic data-center deal agrees on the contract terms but diverges sharply on the company's Q2 2026 revenue, with The Cryptonomist EN and crypto.news reporting growth and CoinGape reporting a miss.
What all sources agree on
- Anthropic agreed to a 20-year contract for 191 MW of computing capacity at Riot's Rockdale, Texas campus, expected to generate approximately $9.1 billion, running through June 2048.
- Two optional five-year extensions could raise total contract revenue to about $16.1 billion.
- Bloomberg identified the unnamed 'leading frontier AI lab' tenant as Anthropic, citing people familiar with the matter; neither company publicly confirmed this.
- Riot secured $573 million in interim financing from Morgan Stanley to fund early construction.
- Riot's bitcoin mining revenue fell to $113.7 million in Q2 from $140.9 million a year earlier.
- Riot mined 1,587 BTC during the quarter.
- Riot ended the quarter holding 11,380 BTC and $548.9 million in cash.
Where the reports disagree
1Riot Platforms' Q2 2026 revenue figure
Q2 revenue rose 14% to $174.2 million, though the company posted a net loss of $237.2 million, a reversal from the $219.5 million profit booked a year earlier.
The company reported revenue of $153.27 million during the quarter, lower than the $155.59 million that Wall Street expected.
What would settle it: Riot Platforms' Q2 2026 SEC filing (Form 10-Q) or official earnings release.
2Magnitude of RIOT's post-news stock jump
Shares of Riot Platforms (RIOT) rallied approximately 25% in overnight trading on reports that Anthropic agreed to purchase 191 MW of computing capacity
RIOT stock price is up by 18% in pre-market trading today, August 11, after reports that the Bitcoin miner has partnered with Anthropic in a deal valued at $9.1 billion.
What would settle it: Nasdaq trading data for RIOT covering the relevant after-hours and pre-market sessions.
What to make of it
The core terms of the Anthropic-Riot deal ($9.1B, 191MW, 20-year contract at Rockdale) are consistently reported and can be treated as established; the Q2 2026 revenue figures and exact stock-price move are not consistent across sources and should not be cited as settled numbers until Riot's own SEC filing or trading data is checked.
Market Impact
A confirmed deal of this size would likely reinforce a broader narrative that bitcoin miners are increasingly viewed as AI infrastructure plays, not purely crypto-production companies. That narrative has already driven valuation gains for several miners exploring similar pivots.
If the report proves inaccurate or the terms differ materially from what was described, Riot Platforms' after-hours gains could reverse once regular trading resumes. Investors should watch for official confirmation, SEC filings, or statements from Anthropic before treating the reported figure as settled fact.
The reported deal, if confirmed, would mark a major step in Riot Platforms' expansion beyond bitcoin mining into AI infrastructure. Until the companies involved issue formal confirmation, the terms and scope of the agreement remain unverified.
Frequently Asked Questions
What did The Block report about Riot Platforms?
The Block reported that Riot Platforms' stock rose 25% after-hours following news of a reported $9.1 billion deal connected to AI infrastructure, said to involve Anthropic.
Has Riot Platforms or Anthropic confirmed the deal?
No confirmation from Riot Platforms or Anthropic was included in the available reporting at the time this article was published.
Why would a bitcoin mining company be involved in an AI deal?
Bitcoin miners operate large data centers and power infrastructure that can sometimes be adapted for AI computing workloads, prompting several firms to explore diversification beyond mining.
Why did Riot Platforms' stock react so strongly after-hours?
Investors often respond quickly to headline figures in reported deals, especially large ones, even before full details or official confirmation are available.