Riot Platforms Executes 20-Year, 191 MW Data Center Lease With Frontier AI Lab For $9.1B Revenue; Data Center Lease Extensions Could Increase Total Contract Value To $16.1B; Estimated NOI From Lease $7.3B-$8.2B Over Base Term, $365M-$411M Annually; Morgan Stanley Provides $573M Interim Financing For Initial Development Costs; Initial 96 MwWDelivery Expected Dec 2027, Full 191 MW By June 2028
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Why It Matters
Riot Platforms signed a huge 20-year deal to build and rent computer power to a company called Frontier AI Lab for $9.1 billion. This is a big, long-term contract that shows companies need lots of computing power, which could be important to watch as you think about what Riot does.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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