RIOT Stock Outlook as Price Jumps 18% Pre-Market Amid $9.1B Anthropic Compute Deal

Riot Platforms (NASDAQ: RIOT) stock price is up by 18% in pre-market trading today, August 11, after reports that the Bitcoin miner has partnered with Anthropic in a deal valued at $9.1 billion. The pre-market gains have reversed the previous day’s selloff caused by the company’s Q2 earnings miss.

RIOT Stock Rebounds 19% After Q2 Earnings Miss

Riot Platforms shares dropped by 5.46% on August 10 to close trading at $19. That drop occurred after Riot’s Q2 2026 financial results fell below Wall Street estimates. The stock has since reversed this drop with a strong pre-market gain.

The company reported revenue of $153.27 million during the quarter, lower than the $155.59 million that Wall Street expected. The earnings per share also came in at -$0.33, with this being a bigger loss than the expected EPS of -$0.23.

But while reporting these Q2 earnings, Riot Platforms revealed that it has secured a 20-year deal to supply computing power to a “leading frontier AI” company. However, it did not mention the name of that company.

In a later report, Bloomberg cited people familiar with the matter who revealed that Claude maker Anthropic was the company behind that 20-year compute deal. The report triggered the 18% move for RIOT stock during pre-market trading.

The partnership with Anthropic also comes eight months after Riot Platforms signed a 10-year lease with AMD for a similar AI compute deal.

RIOT Stock Surges Towards 50-day SMA as Short-Term Sentiment Flips Bullish

RIOT stock is headed for one of its biggest daily gains. The stock is now targeting the 50-day SMA resistance of $23.77 after the 21% gain in overnight trading.

Riot Platform shares have not closed above the resistance at the 50-day SMA since July 2. If the shares close above this resistance due to buying pressure caused by the Anthropic partnership deal, the uptrend could continue to the June 26 high of $28.

Still, the RSI reading of 41 suggests that the momentum is still favoring bears after two straight days of strong sell-side pressure.

The price of RIOT stock has also been rejected at the resistance at the 50-day SMA several times in the last one month. If another breakout fails, the stock could drop to the psychological support of $20.

Bitcoin Mining Revenue Drops to $113M

The Q2 2026 earnings results by Riot Platforms also revealed a drop in the revenue coming from Bitcoin mining activities from $140.9 million in Q2 2025 to $113.7M in Q2 2026.

The Bitcoin miner attributed the drop in revenue to a decline in the price of Bitcoin and a surge in the global network hash rate.

Riot Platforms did not disclose selling any Bitcoin during the quarter, with this marking a different approach from that of Bitcoin miner Mara Holdings, which sold $1.6 billion BTC between January and June 2026.

Riot Platforms ended Q2 2026 with 11,380 Bitcoin that is worth around $666 million at the average price of Bitcoin in June 2026 of $58,527.