Riot Signs $28 Billion Anthropic Lease for Corsicana Campus

Riot Platforms has signed a 15-year lease with Anthropic for 910 megawatts of data center capacity at its Corsicana, Texas, campus, a deal Riot values at about $28 billion over the initial term. The agreement became binding November 4 after board and technical-specification approvals, according to Riot’s filing with the U.S. Securities and Exchange Commission. The lease covers the full campus and marks a major expansion of Riot’s data center business alongside its Bitcoin mining operations. Riot says the initial term will generate average annual rent of about $1.8 billion. The term begins when the first capacity block starts operating, not when the lease became binding. The stated contract value represents rent over time, rather than an upfront payment. Two five-year extension options could increase the total value to about $54 billion if exercised. Riot plans to deliver the capacity in phases. It targets the first block for June 28, 2027, and the full 400-megawatt phase for September 11, 2027. A 200-megawatt phase is targeted to begin in blocks from December 24, 2027, with the full phase scheduled for January 28, 2028. The remaining 310 megawatts are targeted to commence July...