$9 billion over 20 years is what Riot expects from a new Anthropic compute lease at its Rockdale, Texas, campus, with extension options lifting potential revenue to about $16.1 billion.
191 megawatts of grid-connected capacity give Anthropic scarce near-term power for AI workloads and push Riot further from pure bitcoin mining toward an AI infrastructure landlord model.
Riot shares jumped more than 20% after the news before surrendering nearly all of the gain, even as Compass Point said the Anthropic pact and an existing AMD agreement leave the site with $9.8 billion in contracted data-center revenue.
Bitcoin miners are increasingly being valued for power, land and energy contracts rather than coin production, especially after weak crypto prices and halving-driven pressure squeezed mining economics.
Texas power scarcity could strengthen that shift: ERCOT is scrutinizing new projects, and analysts say limited greenlit capacity may make existing large power blocks more strategically valuable.