Riot Signs 15-Year Anthropic Lease Valued at $28 Billion

Riot signed a 15-year lease with Anthropic valued at $28 billion. The first 400 megawatts are scheduled to begin generating rent in June 2027. A financing shortfall could trigger repayment at 12% annual interest, tying the miner's AI hosting deal to strict funding conditions. The agreement marks a major shift for Riot beyond bitcoin mining.