Riot Signs $9.8 Billion AI Data Center Lease Agreements with Two Tech Companies

Riot Platforms has signed AI data center lease agreements with two large tech clients, covering 241MW of critical IT capacity, corresponding to approximately $9.8 billion in long-term contract revenue. This move will accelerate the company’s transition from a business model focused primarily on Bitcoin mining to that of a large-scale data center developer. The larger of the two agreements is a 191MW custom-built lease signed between Riot Platforms and a leading cutting-edge AI lab, located at Riot’s Rockdale campus. The initial term of this agreement is 20 years, expiring in June 2048, and is expected to generate around $9.1 billion in contract revenue. If the client continues leasing after the base term ends, the revenue from the agreement could expand further. The agreement includes two 5-year renewal options; if both are exercised, the total potential contract value will rise to approximately $16.1 billion. Riot estimates that the initial term alone will generate cumulative net operating income of roughly $7.3 billion to $8.2 billion, equivalent to an annual average contribution of about $365 million to $411 million. The first phase of 96MW is scheduled for delivery in December 2027, with the full 191MW set to be deployed by June 2028.