Riot Shares Rise 9.6% as $28 Billion Texas Lease Takes Effect

Riot Platforms shares closed 9.6% higher at $15.37 on Wednesday, Nov. 4, the day a 15-year lease for data-center capacity at its Corsicana, Texas, campus took effect. RIOT had gained 18.4% Tuesday, closing at $14.02.

The stock reached $16.21 during Wednesday’s regular session. Riot estimates the lease’s contract value at about $28 billion over its initial term, with average annual rent of $1.8 billion. The agreement covers 910 megawatts of critical IT capacity, and Anthropic PBC is the tenant.

Riot has scheduled its first 400 MW for September 2027 and the next 200 MW for January 2028; the last 310 MW is due in July 2028. Rent begins as each block is delivered, so the estimated contract value is spread across the lease term rather than already received.

Riot also counts its AMD contract and a separate Rockdale lease in a data-center portfolio totaling 1,151 MW of contracted capacity and about $38 billion in contracted revenue.