Riot (RIOT) Names Anthropic as Tenant in $28 Billion Texas Lease, Could Owe It 12% Interest

Dextape brief

By Dextape Desk · November 5, 2026

Riot Platforms disclosed in its quarterly filing that Anthropic, the developer of the Claude AI model, is the tenant behind a 15-year lease at its Corsicana, Texas campus valued at roughly $28 billion. The filing also names Anthropic as tenant of a separate 191 MW Rockdale lease. Average annual rent over the initial term is put at about $1.8 billion, based on base rent starting at $130 per kilowatt per month and rising 3% a year. Riot agreed to reimburse up to $4 million per megawatt for modules Anthropic installs, but if outside financing is unavailable, it would instead give rent credits accruing 12% annual interest. Capacity arrives in three phases through July 30, 2028, and Anthropic can terminate a phase delayed more than 270 days.

Why it matters: The filing shows a major AI developer as a large counterparty for a bitcoin miner, and a 12% interest clause could carry financial exposure if outside financing falls short.

Mentioned: Bitcoin

Summary by Dextape, based on reporting by Bitcoin Magazine. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.