Riot Platforms Stock Soars 18% Following Massive Compute Deal

Shares of Bitcoin mining firm Riot Platforms jumped 18 percent during pre market trading today. This sharp rally comes on the heels of reports detailing a new compute partnership with artificial intelligence company Anthropic. The deal is valued at 9.1 billion dollars.

This positive news helps the company recover from a recent slump. Riot stock had previously dropped after the firm reported missing expectations for its second quarter earnings. Investors appear to be viewing this new agreement as a significant path forward for the mining company.

Market participants are now watching to see if these gains hold once the regular trading session opens. While the news provides a boost to sentiment, traders remain focused on how this expansion into high performance computing will affect the company long term.