Riot Platforms revealed in its quarterly report that Anthropic is the tenant of its Corsicana, Texas, campus under a 15-year lease worth about $28 billion covering 910 MW of computing capacity. Anthropic is also the counterparty to a 191 MW lease at Rockdale, bringing Riot’s total contracted capacity to 1,101 MW out of 1,151 MW, with AMD holding the remaining 50 MW. Base rent starts at $130 per kilowatt per month and increases by 3% annually, averaging about $1.8 billion per year over the initial term. If Riot cannot finance the construction of modules for Anthropic, it must provide rent credits amortizing the cost plus 12% annual interest over the remainder of the initial lease. To fund the project, Riot plans to issue about $5.5 billion of non-recourse project debt and sell substantially all of the 20,264 BTC it mined in 2026.
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