Riot and Anthropic lease agreement sets a 12% annual interest standby clause

According to documents submitted by the Bitcoin mining company Riot Platforms to the U.S. Securities and Exchange Commission, the lease agreement between Riot and Anthropic for the Corsicana data center became effective on November 4, and is expected to provide 910 megawatts of critical IT load capacity. The project is planned to be delivered in three phases, with the first capacity target set to be operational on June 28, 2027, and the third phase target set to be operational on July 30, 2028.

Riot will reimburse Anthropic for part of the data center module costs, calculated based on the actual achieved critical IT power capacity, up to $4 million per megawatt, provided that Riot secures financing under market conditions acceptable to it. If such financing cannot be obtained despite commercially reasonable efforts, Riot will amortize the cost and 12% annual interest through rent deductions for the remainder of the initial lease term.