Riot’s $28 billion AI lease gives Anthropic a veto on voluntary power cuts

Riot Platforms signed a binding $28 billion AI lease at its Corsicana site covering a planned 910 MW, with rent tied to future delivery. The deal gives Anthropic a veto over voluntary power cuts, while mandatory grid orders stay exempt. Traders care because it converts a bitcoin miner into a large AI infrastructure counterparty, a major revenue diversification that could reprice miner equities and the sector's power assets.