Riot Platforms has disclosed artificial intelligence laboratory Anthropic as the counterparty to a landmark $28 billion Texas lease agreement that carries complex financial and operational provisions, according to regulatory filings reviewed by industry publications.
The Bitcoin mining firm identified Anthropic as the tenant for its planned 910-megawatt Corsicana facility in a recent 10-Q filing with the Securities and Exchange Commission Bitcoin Magazine. The agreement, which represents one of the largest infrastructure arrangements bridging cryptocurrency mining and AI compute capacity, includes provisions that could see Riot paying its tenant interest on construction costs.
Financial terms detailed in the filing indicate that Riot could owe Anthropic 12% interest on up to $3.6 billion in build-out costs, adding a layer of financial complexity to the decade-long arrangement Bitcoin Magazine. The total lease value is estimated at approximately $28 billion over its term, marking a significant infrastructure commitment as Riot expands beyond Bitcoin mining into high-performance computing hosting.
Beyond the monetary provisions, the contract grants Anthropic substantial operational control over energy curtailment decisions. Under the agreement terms, Anthropic retains veto power over voluntary power cuts at the facility, though mandatory grid orders from ERCOT remain exempt from this provision CryptoSlate. This arrangement reflects the divergent operational requirements of AI data centers—which require consistent uptime for model training—versus Bitcoin mining operations that traditionally offer greater flexibility to the grid during peak demand periods.
The Corsicana deal covers planned capacity of 910 megawatts, with rental payments structured to depend on future delivery milestones rather than immediate availability CryptoSlate. This performance-linked structure creates aligned incentives for construction completion while linking financial obligations to infrastructure delivery.
The agreement underscores the accelerating convergence between cryptocurrency mining infrastructure and artificial intelligence compute requirements. As AI companies face mounting pressure to secure reliable power sources for expanding large language model operations, Bitcoin miners with existing energy contracts and facilities have increasingly positioned themselves as hosts for data center workloads. However, the intricate financial terms—including the interest-bearing construction provisions and curtailment veto rights—highlight the operational friction inherent in integrating these distinct models, where mining flexibility traditionally served grid stability functions that AI data centers cannot readily replicate without contractual protections.