According to ChainCatcher citing a filing Riot Platforms submitted to the U.S. Securities and Exchange Commission, the lease for Riot and Anthropic’s Corsicana data center took effect on November 4 and is expected to provide 910 megawatts of critical IT load capacity. The project is scheduled for delivery in three phases, with the first capacity targeted to come online on June 28, 2027, and the third phase on July 30, 2028.
Riot will reimburse Anthropic for some data center module costs, up to $4 million per megawatt of achieved critical IT capacity, if Riot secures financing on terms it reasonably accepts. If it cannot obtain that financing despite commercially reasonable efforts, Riot will cover the costs through rent offsets over the remainder of the initial lease term, with 12% annual interest.