Anthropic has agreed to a USD 9 billion, 20-year cloud computing deal with Riot Platforms to expand its computing capacity.
The deal forms part of Anthropic's ongoing efforts to secure sufficient computing resources to meet growing demand from its customers.
Contract terms and capacity
According to Bloomberg, the agreement runs through June 2048 and is expected to generate USD 9.1 billion in revenue for Riot Platforms, the company said. It also includes an option to extend the contract twice, by five years each time, which could bring total sales to as much as USD 16.1 billion.
Neither company has confirmed the identity of the counterparty publicly. Riot Platforms declined to comment, and Anthropic did not respond to a request for comment.
The agreement adds to a series of computing deals Anthropic has signed with cloud infrastructure suppliers in recent months as it works to keep pace with demand for its Claude AI tools. Earlier deals include a USD 10 billion agreement with Volta Infra, a months-old infrastructure startup, and an agreement to purchase close to USD 45 billion worth of computing from xAI, signed in May 2026. Anthropic has also announced a separate agreement with Advanced Micro Devices to build computing infrastructure.
From Bitcoin mining to AI infrastructure
Riot Platforms, previously known as Bioptix and originally focused on diagnostic machinery for the biotech industry, shifted its business towards Bitcoin mining before its current move into cloud computing. The company is among several cryptocurrency mining firms now expanding into AI data centre capacity to meet rising demand for computing power.
Following news of the deal, Riot Platforms' shares rose 25% to USD 24.40 in late trading on 10 August 2026. The company also reported second-quarter sales that beat expectations, partly attributed to its data centre business.
The transaction illustrates the scale of computing capacity that AI developers are securing to support model training and inference, and highlights the growing role of cryptocurrency mining firms as suppliers of data centre capacity for the AI sector. Long-duration contracts of this kind, spanning multiple decades, point to expectations of sustained demand growth across the AI computing market.
