Riot Platforms signed a 20-year data centre lease with Anthropic for 191 megawatts of capacity at its Rockdale campus. The deal is expected to generate approximately $9.1 billion in total contract revenue over the initial term. The lease includes two five-year extension options, representing a total potential contract value of approximately $16.1 billion if both extensions are exercised. In January, Riot also signed a lease with Advanced Micro Devices for its Rockdale facility. Following the announcement, Needham raised its price target on Riot stock from $28.50 to $30, representing a 54.6% upside from the closing price of $19.40. The firm reiterated its buy rating. During the second quarter, Riot generated revenue of $174.2 million, including $23.2 million from data centres.

Riot Platforms has signed a 20-year deal to supply 191 megawatts of computing power to Anthropic for $9.1 billion, Bloomberg reported, citing sources. The Bitcoin miner had earlier announced the agreement without naming the customer. RIOT shares jumped over 26% in overnight trading following the report. The deal uses Riot's Rockdale, Texas campus infrastructure. The company also reported second-quarter results showing revenue increased 14% to $174.2 million, though it swung to a net loss of $237.2 million from a year-ago profit of $219.4 million. Combined with an earlier AMD deal, Riot has now secured 241 megawatts of capacity representing approximately $9.8 billion in long-term contracted revenue, CEO Jason Les said.

Riot Platforms agrees 191MW, 20-year lease agreement with Anthropic worth $9.1bn - report. Capacity will be deployed at Bitcoin miner's campus in Rockdale, Texas August 11, 2026 US-based Bitcoin mining firm Riot Platforms has secured a 20-year, $9.1 billion deal to lease 191MW of capacity at its data center campus in Rockdale, Texas. In a statement, Riot said it had struck the deal with "one of the world's leading frontier AI labs." Bloomberg has since reported that the customer was Anthropic, citing people familiar with the situation. Bloomberg said Riot declined to comment and Anthropic didn't respond to the news outlet's request for comment. While the contract has an initial 20-year term, Riot said it includes two five-year extension options, bringing the total potential contract value to $16.5bn, if both extensions are exercised. Of the total 191MW of capacity, 96MW is expected to go live in December 2027, with full deployment slated for June 2028. Riot said a $573 million interim financing facility provided by Morgan Stanley will fund initial development costs while the investment-grade credit backstop is finalized. "Today's announcement of a landmark 20-year, 191MW data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers," said Jason Les, CEO of Riot. "It builds directly on a strong second quarter, in which we completed delivery of the initial 25MW to AMD on time and on budget. In just over six months, Riot has now executed leases totaling 241MW of capacity, representing approximately $9.8 billion of long-term, contracted revenue with two of the most important companies in the AI ecosystem." The customer will be the second tenant Riot has secured for its Rockdale campus, following an agreement it struck with AMD in January 2026. That lease includes an initial deployment of 25MW of critical IT load capacity to be delivered in phases beginning in January 2026 (5MW) and completing in May 2026, and another 25MW due next year. The agreement includes the potential to expand to a total of up to 200MW of critical IT load capacity at the campus. Alongside the new leasing announcement, Riot also posted its Q2 2026 financial results, with revenue for the three-month period totaling $174.2m, a 14 percent Year-on-Year (YoY) increase. For the quarter, data center revenue totaled $23.2m, comprised of $4.9m in operating lease revenue and $18.3m in tenant fit-out services revenue. Riot said it also produced 1,587 Bitcoin during the quarter, a YoY increase of 161. Formerly known as Riot Blockchain, Riot is one of the world's largest Bitcoin miners, but has been in discussions about a pivot towards AI and HPC data centers since 2024. The company owns and manages more than 1,100 acres and 1.7GW of power capacity across its two Texas facilities. It also owns two operational sites in Kentucky, totaling 60MW, after acquiring Block Mining in July 2024. The sites could total more than 300MW at full build-out. Greenpeace previously accused Riot of operating the "largest, and one of the most energy and carbon-intensive, Bitcoin mines in the US." More in investment / M&A / financing.