Riot leases entire Corsicana, Texas campus to Anthropic for 910 MW critical IT load

Riot Platforms said on 4 November 2026 that its subsidiary Riot Corsicana has leased the whole of its Corsicana campus in Navarro County, Texas, to Anthropic PBC under a 15-year triple-net lease of powered land. Riot expects the 332-acre parcel to provide 910 MW of critical IT load. Riot's 10-Q quarterly report names the tenant; the earnings release calls it a Frontier AI Lab. The 10-Q says the lease was signed on 28 October and took effect and became binding on 4 November, once Riot's board and outside consultants reviewing the technical specifications had given their approval.

Riot says it will build and deliver the capacity in three phases made up of 40 blocks. The 10-Q targets the first phase, 400 MW, to start with its first block on 28 June 2027 and in full on 11 September 2027; the second, 200 MW, in full on 28 January 2028; and the third, 310 MW, on 30 July 2028. The release puts the phases at September 2027, January 2028 and July 2028, and says rent on each phase starts no later than 60 days after its powered pads are delivered.

Under the structure Riot describes, it provides the land, the electrical supply and the pads that are ready for power, and keeps ownership and upkeep of the high- and medium-voltage equipment feeding them. The tenant buys, installs, owns and runs the modular compute on the pads and bears nearly all running costs, passing power costs through. Riot says the tenant owes rent on the whole 910 MW whether or not it uses it.

Riot's 10-Q says ERCOT has placed the Corsicana site in one of its regional large-load groups, whose total use ERCOT can limit, so the site's draw may be capped or cut back as other members of the group use more power, even if its own demand stays the same.