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Crypto

Anthropic signs 20-year, $9 billion AI compute deal with Riot

Bitcoin miner Riot Platforms has signed a 20-year compute agreement with Anthropic worth $9 billion. Under the deal, Anthropic will lease 191 megawatts of power at Riot’s Rockdale, Texas campus. Riot had previously described the counterparty only as a leading frontier AI company. The contract is seen as a step toward shifting Riot’s business from bitcoin mining to AI infrastructure leasing, with revenue projected to rise further if extension options are exercised.

Crypto

Bitcoin miners\' shift to AI infrastructure cools stock gains despite faster pivot

Bitcoin mining companies are shifting their business models toward AI and high-performance computing, but the stock market reaction to infrastructure contract announcements appears to be weakening. Cointelegraph reported that while contract size and profitability have increased, investors are focusing more on execution, financing and long-term profitability. An analysis of 25 deals found the average same-day share gain fell to about 10 percent from about 24 percent for earlier announcements.

Crypto

Cleanspark shares fall after quarterly revenue misses Wall Street estimates

Cleanspark shares fell 5.5 percent after the company posted fiscal third-quarter revenue of $138.0 million, below Wall Street expectations. Revenue fell 30.5 percent from $198.0 million a year earlier and missed the $142.2 million analyst consensus compiled by Yahoo Finance. Cleanspark also reported a net loss of $239.0 million for the quarter, compared with net income of $257.0 million, or $0.90 per share, a year earlier.