Anthropic's data center lease with Riot Platforms

Anthropic has signed a 20-year, $9.1 billion lease with Riot Platforms for 191 megawatts of AI computing capacity at Riot's Rockdale, Texas campus. The contract runs through June 2048 and includes two optional five-year extensions that could raise the total value to $16.1 billion. Riot, a bitcoin miner, will build a Tier 3 data center at the site, delivering the first 96 megawatts by December 2027 and the full buildout by June 2028. To fund early construction, Riot arranged a $573 million interim financing facility through Morgan Stanley. Riot initially disclosed the agreement without naming the counterparty, describing it only as a 'leading frontier AI lab'; Bloomberg later identified Anthropic.