Riot Platforms is a vertically integrated digital infrastructure company specialising in the development of large-scale data centres and Bitcoin mining applications.

In a statement, Riot said it had executed a Data Center Lease and Services Agreement with "one of the world's leading frontier AI labs" for 191 megawatts (MW) of critical IT capacity at its Rockdale campus.

The data centre lease carries an initial term of 20 years, running through June 2048, and is expected to generate approximately $9.1 billion in total initial contract revenue.

The agreement also includes two five-year extension options at the tenant's election. If both options are fully exercised, the total potential contract value could reach approximately $16.1 billion.

The transaction marks Riot's second major tenant at its Rockdale campus, following a lease agreement with Advanced Micro Devices (AMD) announced on January 16, 2026.

Together, the two agreements establish Riot as a major contracted AI data centre developer.

"Today's announcement of a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers," Riot CEO Jason Les said.

"It builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget. In just over six months, Riot has now executed leases totaling 241 megawatts of capacity, representing approximately $9.8 billion of long-term, contracted revenue with two of the most important companies in the AI ecosystem," Les added.

Riot Platforms-Anthropic Deal: Key Highlights

Capacity leased: Riot will provide 191 MW of critical IT capacity for a build-to-suit Tier 3 data centre at its Rockdale campus.

Total contract value: The initial 20-year agreement is valued at approximately $9.1 billion. Including both five-year extension options, the potential contract value rises to approximately $16.1 billion.

Net operating income: Riot estimates cumulative NOI of $7.3 billion to $8.2 billion over the initial lease term, with an estimated average annual NOI contribution of $365 million to $411 million.

Delivery schedule: The project will be delivered in phases. The first 96 IT MW is expected to be delivered in December 2027, while the full 191 IT MW deployment is expected by June 2028.

Riot said the project will leverage its existing, fully approved power interconnection at the Rockdale campus.

Financing: Morgan Stanley has provided a $573 million interim financing facility to fund initial development costs while the investment-grade credit backstop is finalised.