Riot's $28 Billion AI Lease Gives Anthropic Veto Over Voluntary Power Cuts

Riot Platforms' Corsicana lease with AI company Anthropic became binding on November 4, covering a planned 910 megawatts of critical IT capacity to be delivered in phases through July 2028. The approximately $28 billion contract gives Anthropic consent rights over voluntary load curtailment and demand-response enrollment, while mandatory grid orders remain exempt. Anthropic bears electricity and site expenses, while Riot builds and maintains power infrastructure.