Riot Leases AI Data Center for $9.1 Billion

Riot Platforms has signed a massive lease for an AI data center that's expected to generate $9.1 billion in revenue over 20 years.

The construction budget is estimated at $2.1-$2.3 billion, with Riot planning to use Bitcoin sales as the primary source of equity funding until rent begins in 2027.

The data center will be built in two phases, with the first 96 MW expected to become available in December 2027 and the remaining 95 MW due in June 2028.