Riot Platforms stock surges on $9.1 billion data center deal with Anthropic

What happened: Riot Platforms (RIOT) banal surged 17% successful pre-market trading connected Tuesday.

What's down the move: The bitcoin mining company, which has pivoted toward selling information halfway capacity, signed a woody with a large AI developer, wide reported to beryllium Anthropic, successful a transaction valued astatine $9.1 billion.

"Today's announcement of a landmark 20-year, 191-megawatt information halfway lease with a starring frontier AI laboratory marks a defining infinitesimal successful our improvement into a starring developer of large-scale information centers," said Jason Les, CEO of Riot, successful the company's net release.

Riot besides reported second-quarter gross of $174 million, up 14% twelvemonth implicit year, driven by maturation successful its information halfway and engineering businesses.

What other you request to know: Riot Platforms and different bitcoin miners person progressively leaned into leasing information halfway capableness arsenic the crypto manufacture navigates a "winter," and request for computing powerfulness has skyrocketed.

In January of this year, Riot announced its archetypal large woody with AMD (AMD) astatine its Rockdale, Texas campus.

Year-to-date Riot banal is up 37%.

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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