Mentioned:
Riot Platforms has just struck another deal to supply land and power for artificial intelligence workloads. And it’s their largest lease of all time.
What’s happening:
- Riot Platforms (NASDAQ: RIOT) has landed a new 15-year lease for all 910 megawatts at their Corsicana data centre campus located in Navarro County, Texas for $28B USD
By the numbers:
- If the tenant exercises both five-year extension options the lease’s total value could reach roughly $54B USD over 25 years
Why it matters:
- This is the single largest lease deal that Riot Platforms has ever done with one of their own data centre sites
Going deeper:
- Riot Platforms has publicly stated they will deliver the 910 megawatts of critical IT capacity in three phases over the next two years
- Riot Platforms previously made major waves on Wall Street when they entered into a 20-year lease deal for hosting artificial intelligence workloads at their data centre located in Rockdale, Texas worth up to $9.1B USD
The fine print:
- The tenant of the lease deal with Riot Platforms has not yet been publicly disclosed
