Riot Platforms Agrees 191MW, 20-Year Lease Agreement with Anthropic Worth $9.1bn – Report
Macquarie Asset Management and GIC will supply most of the equity as Anthropic rents tailored facilities under long-term contracts.
- On Monday, Anthropic, Macquarie Asset Management, and GIC announced a partnership to develop AI computing sites through a new entity called Theseus Infrastructure, with an initial focus in the United States.
- Macquarie and GIC will jointly own the venture and supply the majority of equity for each project, while Anthropic serves as the anchor tenant leasing purpose-built sites tailored to its compute needs.
- Anthropic committed to covering consumer electricity price hikes from the new facilities, echoing a February pledge to fund grid upgrades and net-new generation to match demand.
- The companies shared no details on planned spending, project size, or timelines, and everything about Theseus Infrastructure remains unquantified, including the "thousands" of construction and permanent jobs.
- By booking rent as an operating expense rather than capital expenditure, Anthropic keeps construction risk with investors while preparing for a public listing.
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Riot Platforms Secures $9.1 Billion AI Compute Deal With Anthropic as Bitcoin Miners Race for Data Center Dominance
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Bitcoin mining companies are shifting their business models from cryptocurrency mining to AI data center leasing businesses utilizing large-scale power grids and sites, and changes in the related industry are accelerating, such as Riot Platforms signing a 20-year lease agreement with Anthropic.
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Shares of Riot Platforms (NASDAQ: RIOT) jumped 17% to $22.64 Tuesday morning after the company disclosed a landmark artificial intelligence data center lease agreement alongside its latest quarterly results. The surge follows an after-hours gain of more than 25% on Monday, when RIOT stock had closed the regular trading session down 5.46%, making the reversal all the more dramatic. The catalyst is a 20-year co-location agreement at Riot’s Rockdal…
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