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Switchgear & Transformers

Riot Platforms leases its whole 910 MW Corsicana campus in Texas to an unnamed frontier AI lab for 15 years, about US$28 billion of rent

. Source published 4 Nov 2026. Original reporting: Riot Platforms (GlobeNewswire) (opens in a new tab).

What changed

Riot Platforms says it has signed a 15-year triple-net powered land lease with a leading frontier AI lab, which it does not name, for all of its Corsicana campus: 910 MW of critical IT capacity on a 332-acre site. Riot puts the total contract value at about US$28 billion, or about US$54 billion if both five-year extensions are taken. Riot delivers the land, the high and medium voltage infrastructure and powered pads, and the tenant installs, owns and runs modular compute on them, paying power costs as a pass-through. Delivery is planned in three phases: 400 MW in September 2027, 200 MW in January 2028 and 310 MW in July 2028. Riot says capital costs are about US$6 million per IT MW, US$5.5 billion in total. With earlier leases to AMD and the same lab at Rockdale, Riot says it has now leased 1,151 MW. The lease figures are Riot's own and the schedule is a company plan.

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Read the original: Riot Platforms (GlobeNewswire): Riot Platforms leases its whole 910 MW Corsicana campus in Texas to an unnamed frontier AI lab for 15 years, about US$28 billion of rent (opens in a new tab)
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