Bitcoin Miner Riot Stock Jumps 24% After $9.1B Anthropic AI Deal

Riot's after-hours rally pushed its market value sharply higher, despite a quarterly net loss of $237 million. Anthropic has agreed to pay Riot Platforms $9.1 billion over 20 years for computing capacity at the miner’s Rockdale, Texas campus, according to people familiar with the matter who spoke to Bloomberg on Monday. Riot’s stock jumped 24% in after-hours trading following the report, a sharp reversal after shares had already closed the regular session down more than 5%. The Deal and the Market Reaction Riot disclosed the agreement itself earlier Monday, describing a 20-year contract to supply 191 megawatts of capacity, enough to power roughly 143,000 homes at any given moment, to an unnamed “leading frontier AI” company. Bloomberg’s sources, who asked not to be identified because the information is private, said that the company is Anthropic. Neither Riot nor Anthropic has confirmed the identity publicly. The stock swing was dramatic even by Riot’s volatile standards. Shares closed regular trading at $19.40, down $1.12, before climbing to $24.13 in the after-hours session, a gain of $4.73 from the close. That put the after-hours price well above Monday’s intraday range of $19.1...