The 10-Q that Riot Platforms filed on November 4 identifies Anthropic PBC as the frontier AI lab behind its 910 MW powered-land lease in Corsicana, Texas. The deal, valued at about $28B over 15 years, was signed on October 28 and took effect a week later.

Anthropic will pay base rent of $130 per kW of critical IT load per month, rising 3% a year, on a triple net basis that also puts taxes, insurance and electricity on the tenant. Capacity arrives in three phases across 40 blocks: 400 MW from June 2027, 200 MW from December 2027 and 310 MW in July 2028.

Riot will also reimburse up to $4M per MW of data center module costs. If it cannot finance that on acceptable terms, it must instead give Anthropic rent credits covering the amount plus 12% annual interest.

This is the miner's second Anthropic lease after the $9.1B, 20-year Rockdale deal in August, deepening its shift from bitcoin mining to AI infrastructure. Late delivery triggers escalating rent credits, capped at 270 days of base rent per phase.