Riot Signs $28 Billion Anthropic Deal With 12% Interest on Eligible Facility Costs

Riot Platforms has signed a 15-year, roughly $28 billion agreement to provide Anthropic with 910 megawatts of data center capacity in Texas, marking a major shift beyond Bitcoin mining.

The capacity will be delivered at Riot’s Corsicana campus. Once fully operational, the project is projected to generate about $1.8 billion in annual rent, with the first capacity expected in June 2027.

Construction is estimated to cost $5.5 billion. Riot expects to spend about $1.8 billion on its site and power infrastructure, while up to $3.6 billion could cover Anthropic’s data center facility costs. Anthropic can recover eligible facility costs through credits against future rent, with 12% annual interest on those costs. Riot plans to fund 80% to 90% of the project with debt, with financing work set to begin in 2027. Riot expects to contribute about $500 million to $1.1 billion.

Riot has been selling Bitcoin (BTC) to finance its move into data centers. It sold 20,264 BTC for about $1.5 billion in the first nine months of 2026 and held 2,418 BTC at Sept. 30. The company expects to sell almost all newly mined Bitcoin going forward.