Riot Inks 20-Year, 191 MW Anthropic Rockdale Lease

Riot Platforms has signed a 20-year, 191-megawatt data center lease at its Rockdale, Texas campus with Anthropic, a leading frontier AI lab, in a deal valued at about $9 billion and potentially up to $16 billion with extensions. The delivery is phased, with 96 MW expected online by December 2027 and full capacity by June 2028, funded initially by a $573 million Morgan Stanley facility as Riot finalizes a credit backstop. This marks Riot’s second major tenant at Rockdale after AMD, expanding contracted capacity to 241 MW. The arrangement signals a shift of bitcoin miners toward AI and high-performance computing infrastructure. Riot reported Q2 revenue of $174.2 million, up 14% year over year, though the company still posted a net loss as it monetizes its power capacity and engineering capabilities. The market reacted positively, with Riot’s stock trading higher on the news as analysts view these AI-center partnerships as addressing AI data-center power constraints.