Riot signs ~$28bn 15-year 910 MW Corsicana lease with a frontier AI lab
The triple-net powered-land deal covers the entire Texas campus; Riot says it has now leased 1,151 MW of critical IT capacity for about $38bn of long-term contracted revenue, without naming the tenant.
Why it matters
Riot's Corsicana lease is one of the largest disclosed AI powered-land contracts yet: 910 MW of critical IT capacity for about $28bn over 15 years, lifting the miner's leased portfolio to 1,151 MW and roughly $38bn of contracted revenue. The company still funds build-out partly by selling bitcoin and did not name the tenant in its release, calling it only a leading frontier AI lab. Delivery is phased through 2028 on the earnings call's figures. Watch whether the tenant is confirmed in filings and how fast Riot exits mining load at the site.
Key facts
- 15-year triple-net powered-land lease at Corsicana
- 910 MW critical IT capacity, ~$28bn initial-term contract value
- ~$1.8bn average annual rent over the initial term
- Riot leased portfolio now 1,151 MW / ~$38bn contracted revenue
- Tenant described only as a leading frontier AI lab
- Q3 release dated 4 November 2026