Anthropic controls voluntary cuts to its leased load at Corsicana; mandatory grid orders are exempt, and rent depends on phased delivery.
Riot Platforms' Corsicana lease with AI company Anthropic became binding Nov. 4, making voluntary curtailment of the tenant's power load subject to its consent. The agreement puts a tenant-approval requirement around an operating choice the Bitcoin miner has used in its power strategy.
Under the terms disclosed in Riot's quarterly filing, Riot needs Anthropic's consent to curtail the tenant's load or enroll the premises in voluntary demand-response programs. Mandatory orders from the utility or grid operator are exempt.
Riot commits planned capacity to AI rent. The lease sets different rules for voluntary cuts and mandatory orders.
Applies to Riot's choice to curtail the tenant's load or enroll the premises in voluntary demand response.
The approval gate covers the leased tenant load, rather than a companywide ban on mining curtailment.
Capacity remains planned. The issuer summarizes the lease. Rent may be deferred up to 60 days per pad if tenant modules are absent. No quantified credit loss is implied.
Qualitative contract and responsibility diagram using the issuer's disclosed terms. Arrows show power delivery, rent obligations and consent/order pathways, not measured electricity or cash flows. Capacity remains planned and delivery phased.
Capacity remains planned. The issuer summarizes the lease. Rent may be deferred up to 60 days per pad if tenant modules are absent. No quantified credit loss is implied.
The agreement, signed Oct. 28, covers a planned 910 megawatts of critical IT capacity.
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