Bitcoin miner Riot could pay Anthropic 12% interest under $28 billion AI deal
4 Articles
4 Articles
Bitcoin miner Riot could pay Anthropic 12% interest under $28 billion AI deal
Riot has sold most of its bitcoin to fund its move into data centers. Its latest agreement gives Anthropic a way to finance part of the build and collect interest through rent deductions.
Riot's $28 billion AI lease gives Anthropic a veto on voluntary power cuts
The binding Corsicana deal covers a planned 910 MW, with mandatory grid orders exempt and rent dependent on future delivery. Read the full story on CryptoSlateUnderstand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
The identity of the person behind mining giant Riot Platforms' $28 billion AI deal, after it sold a large portion of its Bitcoin holdings, has been revealed. The details of the deal also shed light on the financial burden facing the company.
According to ChainCatcher, a filing with the U.S. Securities and Exchange Commission by Bitcoin mining company Riot Platforms, Riot's Corsicana data center lease agreement with Anthropic took effect on November 4th, providing an estimated 910 megawatts of critical IT load capacity. The project is planned for delivery in three phases, with the first phase targeting activation by June 28, 2027, and the third phase targeting activation by July 30, …
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