Overview
- Reports say Riot signed a 20-year agreement to provide 191 megawatts of data-center capacity expected to generate about $9.1 billion over the base term, though the customer’s identity rests on media sourcing rather than public confirmation.
- Riot’s filing lays out an initial 96 MW delivery by December 2027 and full deployment by June 2028, with construction costs estimated at $2.1 billion to $2.3 billion and interim financing of $573 million from Morgan Stanley.
- Bloomberg has identified Anthropic as the unnamed tenant and market commentary ties the report to higher private-market pricing for the company, but neither Anthropic nor Riot has publicly confirmed the tenant name.
- The deal highlights a wider trend where Bitcoin miners and power holders convert grid-connected sites into AI data centers and use asset sales or reserves to fund buildouts, as Riot continues to mine Bitcoin while repurposing capacity.
- Key things to watch are formal confirmations from the companies, completion of Riot’s long-term financing, any investment moves by Amazon or Google, and Nasdaq Private Market activity that would signal shifts in Anthropic’s private valuation.