On August 11, Riot Platforms rose 18.97% in regular trading, trading at $22.57/share, with turnover of $168 million. The surge was driven by the announcement of a landmark 20-year, 191-megawatt data center lease agreement with frontier AI lab Anthropic, expected to generate up to $9.1 billion in total revenue.

The deal marks a pivotal strategic shift for Riot Platforms into AI-driven high-performance computing infrastructure. Notably, activist investor Starboard Value had previously urged the company to accelerate its AI data center transition earlier this year, highlighting its Corsicana and Rockdale facilities as top-tier AI/HPC hosting sites. The agreement represents substantial progress on that front.

Separately, the company reported Q2 results on the same day, posting an EPS loss of $0.68, significantly worse than the consensus estimate of a $0.28 loss — a 142.86% miss. However, revenue of $174.2 million beat the $152.064 million estimate. Market attention clearly shifted toward the long-term revenue visibility provided by the Anthropic contract rather than near-term earnings shortfalls.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)