Riot Platforms signed a multibillion-dollar agreement with artificial intelligence giant Anthropic

Bitcoin mining companies' moves in the field of artificial intelligence continue.

Riot Platforms, one of the major mining companies that signed a data center agreement with chip manufacturer AMD at the beginning of the year, this time signed a contract with artificial intelligence giant Anthropic. In Riot's statement yesterday, only the phrase "one of the major artificial intelligence companies..." was used, but no name was given. Bloomberg, one of the US media, claimed that this company was Anthropic and stated that he had confirmed the news to his sources with knowledge of the subject.

22 years and 9.1 billion dollars…

According to Bloomberg, Anthropic will purchase long-term artificial intelligence power capacity from Riot. Other details of the contract, which will last until 2048, are unknown. However, while Bitcoin mining companies generally provide land and energy, machines and GPUs can be provided by companies chosen by the artificial intelligence company. Nvidia is one of the leading companies in this field.

Riot Platforms is expected to earn $9.1 billion from this agreement at the end of 22 years. If Anthropic exercises its extension options, the figure could exceed $16 billion. Under the terms of the agreement, Riot will provide 191 megawatts of capacity from its Rockdale facility in Texas. This capacity means as much power as the electricity consumed by approximately 143 thousand houses at the same time.

Following the news, Riot shares rose from $19 to over $24 and increased by more than 20% within minutes.

One by one, they switched to artificial intelligence

In an agreement made by Anthropic last week, one of the parties was Bitdeer, also a Bitcoin mining company. IREN, Bitfarms, whose new name is Keel, and many Bitcoin mining companies announced that they have now completely switched to the field of artificial intelligence.