tags. Let's craft. Title: "Riot Platforms Leases 191 MW of Texas Bitcoin Mining Capacity to AI Firm in $9.1B Deal" Slug: "riot-platforms-leases-191-mw-texas-bitcoin-mining-ai-deal" Subtitle: "The 20-year agreement, disclosed in an SEC filing, could reshape the miner's revenue mix." Content:
Riot Platforms has signed a 20-year lease for 191 megawatts of computing capacity at its Rockdale, Texas bitcoin mining campus to an unnamed artificial intelligence company, a deal expected to generate roughly $9.1 billion in revenue. The arrangement, disclosed in an exhibit filed with the U.S. Securities and Exchange Commission, is one of the largest known infrastructure deals between a bitcoin miner and an AI firm.
The lease terms
The lease covers 191 MW of capacity at the Rockdale site, which Riot has used for bitcoin mining. The 20-year term is long for a data-center lease, and the $9.1 billion revenue figure works out to an average of about $455 million a year, though the filing doesn't break down the payment schedule. Riot didn't say whether the AI company will take over existing buildings or build new ones.
The unnamed tenant
The filing doesn't identify the AI company. That's unusual for a deal this size — most major leases name the tenant, at least in broad terms. Riot may be keeping the name quiet for competitive reasons, or the tenant may not want public attention. Either way, the lack of a name leaves a big open question: who's paying $9.1 billion for 191 MW of compute in Texas?
Riot's revenue shift
For Riot, the deal is a bet that its power and infrastructure are worth more to an AI company than to a bitcoin miner. The company has been building out its Rockdale campus for years, and this lease turns a chunk of that capacity into a steady, contracted revenue stream. It doesn't mean Riot is leaving bitcoin mining — the lease covers only 191 MW of what is a much larger site — but it does diversify the company's income beyond the volatile price of bitcoin.
The SEC filing
The details came to light in an exhibit attached to a filing with the SEC. The exhibit lays out the lease's basic terms but leaves out the tenant's name and the start date. Riot hasn't said when the AI company will begin using the capacity, or whether the lease is subject to any regulatory approvals. The filing is public, so anyone can read the full terms — minus the tenant's identity.
What's next is unclear. Riot hasn't announced a timeline for the lease to take effect, and the unnamed tenant remains a mystery. The deal is signed, but the real work — building out the infrastructure and flipping the switch — hasn't started.
