Key points
- Riot Platforms signed a 15-year lease with a leading Frontier AI Lab for its entire Corsicana campus.
- The agreement lifts Riot's contracted data-centre capacity to 1,151 megawatts, representing approximately $38 billion in revenue.
- The deal lifts Riot's total contracted data-centre capacity to 1,151 megawatts, representing approximately $38 billion in revenue.
Riot Platforms Inc (NASDAQ:RIOT) secured a 15-year, $28 billion data-centre lease covering 910 megawatts at Corsicana.
The agreement lifts Riot's contracted data-centre capacity to 1,151 megawatts, representing approximately $38 billion in revenue.
“Today, we are excited to announce the largest lease in Riot’s history,” Riot CEO Jason Les said in a statement.
The Corsicana agreement carries approximately $1.8 billion in average annual rent over its initial 15-year term.
Riot plans to deliver 400 megawatts in September 2027, 200 megawatts in January 2028 and 310 megawatts in July 2028.
Riot sold 20,264 Bitcoin (BTC) for approximately $1.5 billion year-to-date, primarily funding data-centre development.
Quarter-end cash and Bitcoin holdings totalled $950.2 million, while quarterly revenue reached $181.4 million, up 1% year-on-year.
Following the announcement, Riot shares were up 9.63% at $15.37.
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