Riot Platforms has to get a massive long-term contract with artificial-intelligence company Anthropic.
Anthropic has agreed to lease 191 megawatts of capacity at Riot’s Rockdale, Texas, campus under a 20-year agreement, according to a recent report by Bloomberg.
Riot said the contract is expected to generate about $9.1 billion in revenue. The agreement also contains two five-year extension options that could lift the total value to as much as $16.1 billion.
Riot's Rockdale has 700 megawatts of grid interconnection capacity. The mining behemoth's broader portfolio includes about 1.7 gigawatts of fully approved power capacity.
The Anthropic agreement follows Riot's earlier partnership with Advanced Micro Devices, which helped establish its data-center business. AMD initially agreed to lease 25 megawatts at Rockdale before exercising an option to double its contracted capacity to 50 megawatts. Riot reported $33.2 million in data-center revenue in the first quarter.
Selling billions worth of Bitcoin
Riot has been persistently selling BTC throughout the year. In the first quarter of 2026 alone, the company sold 3,778 BTC for approximately $289.5 million, at an average net price of $76,626 per Bitcoin.
The amount sold was more than twice the 1,473 BTC Riot mined during the quarter.
That wasn't Riot's first major liquidation. In December 2025, the company sold 1,818 BTC for $161.6 million. Another 383 BTC were sold in November for $37 million. Riot's year-end Bitcoin holdings consequently fell to 18,005 BTC.
Riot also sold approximately 1,080 BTC in January to finance its $96 million acquisition of 200 acres at the Rockdale site. The purchase was explicitly funded through the sale of Bitcoin from the company's balance sheet.
Taken together, those transactions show how Riot has been increasingly willing
The Anthropic deal is a potentially enormous and predictable source of long-term revenue.
InkByte Editorial Team
Dan Burgin
