Riot Platforms Secures $9.1 Billion AI Data Center Lease

Riot Platforms Inc. entered into a 20-year data center lease agreement with a frontier AI lab to provide 191 megawatts of critical IT capacity at its campus in Rockdale, Texas. The contract is expected to generate approximately $9.1 billion in total revenue through June 2048, with potential extensions that could increase the total value to $16.1 billion.

To fund the initial development of the site, Morgan Stanley provided a $573 million interim financing facility. The company scheduled the delivery of the first 96 megawatts for December 2027, with full deployment expected by June 2028. This AI lab becomes the second tenant at the Rockdale site, joining Advanced Micro Devices Inc., which previously leased 50 megawatts of capacity.

In a separate financial update, Riot Platforms reported total revenue of $174.2 million for the quarter ending June 30, 2026. This figure includes $113.7 million generated from bitcoin mining operations.