Riot (RIOT) Names Anthropic as Tenant in $28 Billion Texas Lease, Could Owe It 12% Interest
By Micah Zimmerman
AI summary of the source article
Riot Platforms named Anthropic as the tenant for a 15-year, $28 billion lease covering 910 MW in Corsicana, Texas. Riot agreed to reimburse up to $3.6 billion for infrastructure or provide rent credits at 12% annual interest.
Why it matters
The text explicitly states: "The data center build is why the company has been selling bitcoin all year."
Key facts
- Anthropic signed a 15-year, roughly $28 billion lease with a Riot Platforms subsidiary covering 910 MW of capacity.
- Riot agreed to reimburse Anthropic up to $4 million per megawatt, or issue rent credits amortized at 12% annual interest if market financing is unavailable.
- Riot sold 20,264 bitcoin for about $1.5 billion during the first nine months to fund the data center build.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Riot (RIOT) Names Anthropic as Tenant in $28 Billion Texas Lease, Could Owe It 12% Interest Riot's 10-Q identifies Anthropic as the AI lab behind its 910 MW Corsicana lease and shows Riot could owe the tenant 12% interest on up to $3.6 billion in build costs. This post Riot (RIOT) Names Anthropic as Tenant in $28 Billion Texas Lease, Could Owe It 12% Interest first appeared on Bit…