COINDESK · 2026-11-05 10:30 UTC

Bitcoin miner Riot could pay Anthropic 12% interest under $28 billion AI deal

Riot Platforms signed a $28 billion agreement with Anthropic to convert its Texas power sites into AI campuses, with 910 megawatts of capacity arriving in phases through July 2028. Riot expects $1.8 billion in average annual rent over 15 years, but faces $5.5 billion in total project costs, with Anthropic charging 12% interest on reimbursements for datacenter facilities. Riot plans to borrow 80-90% of project costs and has been selling bitcoin to fund the transition, with only 2,418 BTC remaining as of September 2026.

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