Mining Firm Riot Rises by 4.33%, Reaches $9.1 Billion AI Hash Rate Agreement with Anthropic

August 12th, according to BIT (bit.com) market data, Bitcoin mining firm Riot Blockchain saw a 4.33% increase on Tuesday, followed by an additional 0.54% after-hours surge, with the stock price closing at $20.35.

Yesterday, Anthropic reached a $9.1 billion AI hash rate agreement with Riot to meet the growing hash rate demand from Claude users. Riot will provide 191MW of hash rate to an AI developer at its Rockdale facility in Texas under a 20-year contract. Sources familiar with the matter indicated that the customer is Anthropic. Riot, previously focused on Bitcoin mining, is now shifting towards AI and cloud computing infrastructure services like many other crypto mining firms. The company also recently announced another hash rate agreement with AMD, and its data center business contributed to revenue growth in the second quarter.