Riot Lands $9.1 Billion Lease Deal with Anthropic for Massive AI Data Center

Riot Platforms has signed a massive 20-year lease agreement with AI research lab Anthropic for 191MW of data center capacity at its Rockdale, Texas site. The deal provides Riot with approximately $9.1 billion in base rent over the next two decades.

The first 96MW is scheduled for delivery in December 2027, with the remaining 95MW to follow by June 2028. Anthropic will use a build-to-suit approach tailored to its specifications, with Riot developing the facility to Tier 3 standards.

Riot will receive cumulative NOI (net operating income) of $7.3 billion to $8.2 billion over the base term, averaging $365 million to $411 million annually. However, this figure excludes capital expenditures and other costs.

The agreement marks a significant expansion in scale for Riot's non-mining data center business, which has been growing steadily since 2025. The company currently generates revenue from both bitcoin mining and data centers, with the majority coming from mining operations.