Riot Platforms (RIOT) signed a 20-year data-center capacity agreement with Anthropic, under which it will provide 191 MW of power capacity. The news initially pushed Riot Platforms shares up as much as 17% in after-hours trading. However, those gains faded, and the stock closed at $20.24 on Aug. 11, with more than 76 million shares traded. The reaction followed Riot Platforms’ Aug. 10 second-quarter results, which included a net loss of $237.2 million. In the approximately week of trading since, RIOT stock has increased by about 11%.
Against that backdrop, Stanley Druckenmiller’s Duquesne Family Office disclosed a new 754,800-share stake in Riot Platforms in its second-quarter 13F filing. Duquesne also added stakes in Bitcoin (BTCUSD) miners Bitdeer Technologies Group (BTDR), Hut 8 (HUT), and IREN (IREN), while exiting Intel (INTC) and Micron Technology (MU). The changes suggest Duquesne is moving away from traditional chip stocks and toward companies tied to Bitcoin mining and AI data center demand.
