Data center profile · Rockdale, Milam County, Texas (2721 Charles Martin Hall Road, 200 acres)

Riot Platforms Rockdale

Grid-connected 700 MW Texas campus, still mostly bitcoin mining, converting to AI hosting: 25 MW delivered to AMD, 241 MW of AI leases contracted.

Operating, converting. Riot signed a 191 MW lease with an unnamed AI lab on Aug. 10, 2026, due in phases from Dec. 2027; it rests on a $573M interim loan due Oct. 15, 2026 unless extended. Mining campus has run since 2020.
241 MW
AI/HPC capacity contracted (IT capacity)
AMD 50 MW plus 191 MW for an unnamed AI lab; separate from the bitcoin mining load
25 MW
AI capacity delivered to AMD
the first 5 MW came in Jan. 2026 and the last 20 MW by Q2 2026; AMD has exercised 25 MW more, due Nov. 2026 and May 2027
700 MW
total developed capacity, company figure
serves bitcoin mining and data center leasing together; 17.4 EH/s of miners were deployed at June 30, 2026
$9.1B
base rent on the 191 MW lease over 20 years
term starts at full deployment, expected June 2028; $16.1B if both renewals are used (company figures)
OperatorRiot Platforms (through its subsidiary Whinstone US)
CustomerAMD (50 MW contracted); an unnamed frontier AI lab (191 MW contracted; Bloomberg reports Anthropic, unconfirmed)
Planned IT capacity560 MW at full build-out (our estimate from the company or utility power figure)
First building in serviceIn service since Jan. 2026 (about 25 MW of IT capacity live)
Next deadlineNov. 2026: AMD's next 10 MW is due in Nov. 2026, then 15 MW in May 2027; the AI lab's first 96 MW is due Dec. 2027
Power

Power and the grid

700 MW energized

Oncor/ERCOT grid interconnectionEnergized
700 MW
in service and described by Riot as fully approved; it serves the mining campus and the AI leases together; easements exist for more but no added MW is approved Company · Aug. 2026
Energized now
Other sources, size not disclosed
Related generation and energy contracts (context, not added to campus supply)

Getting on the grid

Who supplies what, what it costs, and what is still not public.

  1. May 2020
    Power contract signed
    Whinstone US signs the long-term power contract that still supplies the site. SEC filing · Oct. 2026
  2. Aug. 3, 2026
    Texas audit of data centers
    The governor orders an audit of data centers in the grid queue; Riot says its AI lease uses the existing approved interconnection, not a new queue position. SEC filing · Oct. 2026
  3. Aug. 1, 2026
    New grid ride-through rules
    New ERCOT requirements took effect, with an exemption for loads operating or approved by Nov. 14, 2025; Riot says it cannot assure the expansion qualifies. SEC filing · Oct. 2026

Grid upgrades

What the grid is building for this load: the asset, its cost, who pays and when it is due to be energized. An upgrade may serve a later phase, not the first building.

What is next door

campus0.39 km · 345 kV+ substation0.48 km · 345 kV+ line0.95 km · gas pipelinecampus0.39 km · 345 kV+ substation0.48 km · 345 kV+ line0.95 km · gas pipeline

Distances from mapped lines and plants. OpenStreetMap · Oct. 2026

Permits

Permits checklist

1 pending · 3 granted · 2 checked, nothing on file

Approvals a campus like this normally needs (including an air permit for backup generators), and what we found.

Risks

What could slow it down

Lawsuits

2 cases on record

Money

Money on record

$573M
interim credit facility, Aug. 2026
funds equipment and development for the 191 MW lease; non-recourse to Riot except carve-outs; due Oct. 15, 2026 unless extended with a refinancing SEC filing · Aug. 2026
$9.1B
191 MW lease base rent, 20 years
company says $7.3B to $8.2B of net operating income over the base term Company · Aug. 2026
$636M
AMD contract revenue, 10-year initial term
$311M for the first 25 MW plus $325M for the amendment; $1.0B if all renewals are used (company) Company · April 2026
$96M
purchase of the 200 acres, Jan. 2026
Riot previously leased the land Company · Jan. 2026
$3.6M per MW
cost of converting an existing building for AMD ($89.8M for 25 MW); expansion about $3.3M per MW
Company · Jan. 2026
Land assembly

1 recorded land document for the campus company in county records (Dec. 2025); it lists no price. Parcel counts come from the deed; acreage is not recorded.

Timeline

What happened, and what is due

SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
  1. Nov. 1, 2019
    Site Whinstone US announces a 100-acre bitcoin mining facility in Rockdale Local government · Oct. 2026
  2. May 1, 2020
    Power Whinstone signs the long-term power contract; construction starts in early 2020 Company · Oct. 2026
  3. May 26, 2021
    Site Riot acquires Whinstone from Northern Data Company · Oct. 2026
  4. July 23, 2021
    Paper trail Riot Platforms, Inc. registered in Texas
  5. April 2025
    Legal Riot settles with hosting customer Rhodium Encore and takes over 125 MW of power capacity SEC filing · Oct. 2026
  6. Dec. 8, 2025
    Money Milam County designates a reinvestment zone and takes up a tax abatement agreement Local government · Dec. 2025
  7. Dec. 12, 2025
    Money Land purchase recorded (no price on the deed): SLR Property I LP to Riot Rockdale LLC County deed records · Dec. 2025
  8. Jan. 16, 2026
    Money AMD signs a 25 MW lease; Riot buys the 200-acre site for $96M Company · Oct. 2026
  9. April 30, 2026
    Power AMD exercises 25 MW more, raising its contract to 50 MW Company · Oct. 2026
  10. June 2026
    Construction AMD's first 25 MW is delivered and operating, while 17.4 EH/s of miners keep running; Riot books a $28M charge on mining equipment redirected to AI SEC filing · Oct. 2026
  11. Aug. 10, 2026
    Money Riot signs a 191 MW, 20-year lease with an unnamed AI lab and a $573M interim loan Company · Oct. 2026
  12. Nov. 2026
    Construction AMD's next 10 MW due SEC filing · June 2026
  13. Dec. 2027
    Construction First 96 MW of the 191 MW lease due; the rest by June 2028 SEC filing · Aug. 2026
The buildings

Specs

7 buildings
two immersion-cooled (200 MW) and five air-cooled (500 MW), built 2020 to 2023 for mining (press)
News report · Oct. 2026
17.4 EH/s
bitcoin miners deployed at June 30, 2026; all-in power cost 3.5 cents per kWh in Q2 2026
SEC filing · June 2026
Tier 3, build-to-suit
standard for the 191 MW lease
Company · Aug. 2026
Other data centers within 40 km (1)
This campus (footprint)
109 ac
Data Center Inc
0 ac
Who is involved

Owners, partners and builders

Owners and developers
  • Riot Platforms: owner and operator (Nasdaq: RIOT)
  • Whinstone US: original developer, now a Riot subsidiary
  • Northern Data AG: former parent of Whinstone, sold it in 2021
  • Riot DC Logistics LLC: borrower on the interim loan
Customers
  • AMD: 50 MW contracted, rights up to 200 MW
  • Unnamed frontier AI lab: 191 MW (Bloomberg reports Anthropic)
Power
  • Oncor: transmission and delivery utility
  • ERCOT: grid operator
Lenders
  • Morgan Stanley Senior Funding: administrative agent on the $573M facility
Decision-makers
  • Milam County Commissioners Court: reinvestment zone and abatement
  • Public Utility Commission of Texas
  • Texas Commission on Environmental Quality
Not part of this campus
  • Bitdeer's separate campus at the former Alcoa site next door
Still unknown

Open questions

Where this comes from

205 records from 33 documents

Drawn from news reports, company statements, public and commercial datasets, business registries, securities filings, local government records, state agency records and court filings, each kept with its date and source. The bar shows documents by type.

News report 9Company 7Dataset 6SEC filing 5Local government 3State agency 2Court filing 2
Evidence

Every quote behind this page

Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.

Power (42)
  • Stormwater coverage: WHINSTONE, 2721 Charles Martin Hall Rd, Rockdale, TX - TCEQ construction stormwater coverages TXR1513UZ and TXR1570BA ("WHINSTONE US ROCKDALE GREENFIELD SITE") under general permit TXR150000 in EPA E
    “CWPName: WHINSTONE; SourceID: TXR1513UZ; MasterExternalPermitNmbr: TXR150000”
    State agency · Oct. 2026 · grade A
  • Neighbour guard: ALCOA ROCKDALE OPERATIONS (NPDES TX0000876; air facility TX0000004833100001, 3990/4069 Charles Martin Hall Rd) is the former Alcoa smelter site on the same road - it is NOT the Riot/Whinstone campus (272
    “ALCOA-ROCKDALE OPERATIONS lists 3990 CHARLES MARTIN HALL RD under TX0000876”
    State agency · Oct. 2026 · grade A
  • IT capacity: 50 MW
    “entered into a long-term data center lease agreement (the “AMD Lease”) and amendment to the AMD Lease (the “AMD Lease Amendment”) at the Rockdale Facility for the deployment of 50 MW of critical IT load capacity”
    SEC filing · Aug. 2026 · grade A
  • IT capacity: 200 MW
    “with the potential for additional expansion of up to a total of 200 MW of critical IT load capacity”
    SEC filing · Aug. 2026 · grade A
  • IT capacity: 191 MW
    “In August 2026, the Company entered into the Tenant Lease to provide 191 MW of critical IT load capacity at the Rockdale Facility.”
    SEC filing · Aug. 2026 · grade A
  • Stated campus size: 700 MW
    “Our large-scale data center located in Rockdale, Texas (the “Rockdale Facility”) with 700 megawatts (“MW”) of developed capacity available for data center workloads, is believed to be one of the largest Bitcoin Mining facilities in North America”
    SEC filing · March 2026 · grade A
  • Utility service: 700 MW
    “700 MW grid interconnection, dedicated water supply, and redundant fiber connectivity”
    SEC filing · March 2026 · grade A
  • IT capacity: 25 MW
    “we announced the execution of a long-term data center lease agreement (the “AMD Lease”) with Advanced Micro Devices, Inc. (“AMD”), to initially provide 25 MW of critical IT load capacity at the Rockdale Facility”
    SEC filing · March 2026 · grade A
  • Interconnection status: ERCOT: energized; 700 MW grid interconnection at the Rockdale Facility per FY2025 10-K; 700 MW developed capacity (mining converting in part to HPC hosting)
    “700 MW grid interconnection, dedicated water supply, and redundant fiber connectivity”
    SEC filing · March 2026 · grade A
  • Utility: Oncor
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest power line of 345 kV or more: 0.48 km
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest substation of 345 kV or more: 0.39 km
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest gas pipeline: 0.95 km
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Air registry status: No TCEQ air authorization names Riot or Whinstone at Rockdale in the records reached: PSP keyword searches for Riot / Riot Platforms / Whinstone US / Rockdale returned no attributable permit, and EPA
    “PSP keywords "Riot", "Riot Platforms", "Whinstone US" returned 0 records”
    State agency · Oct. 2026 · grade B
  • Name: Riot Platforms Rockdale Facility (the Rockdale Facility)
    “Our Rockdale Facility currently provides up to approximately 700 MW of developed capacity for Bitcoin Mining and data center leasing”
    SEC filing · Oct. 2026 · grade B
  • Buildings: 7
    “Rockdale, Texas - 700 MW developed capacity”
    Company · Oct. 2026 · grade B
  • On-site generation: not stated
    “Documented absence: grid-supplied site; The conversion is of grid capacity, not generation”
    SEC filing · Oct. 2026 · grade B
  • Grid operator: ERCOT
    “Texas SB 6 imposes PUCT and ERCOT interconnection requirements for loads of 75 MW or more”
    SEC filing · Oct. 2026 · grade B
  • Power plan: grid
    “345 MW of long-term fixed-price power under the Rockdale PPA, with additional power purchased at market prices”
    SEC filing · Oct. 2026 · grade B
  • Construction stage: Operating (mining campus and 25 MW AMD data center in service); AMD expansion retrofit under construction; 191 MW build-to-suit in pre-construction with long-lead equipment funded
    “final 20 MW of AMD's initial 25 MW capacity delivered in Q2 2026”
    Company · Oct. 2026 · grade B
  • Stage: operating - converting
    “final 20 MW of AMD's initial 25 MW capacity delivered in Q2 2026”
    Company · Oct. 2026 · grade B
  • interconnection: in service (legacy, fully approved)
    “existing, fully approved interconnection”
    Company · Oct. 2026 · grade B
  • Whinstone US broke ground at Rockdale (announced via the Rockdale MDD): 100-acre facility, $150M initial capital investment, 200 jobs, construction contracts featuring 1 GW of electrical service. The 1 GW was a 2019 plan
    “plans to build a 100-acre data mining facility in Rockdale, Milam County, Texas”
    Local government · Oct. 2026 · grade B
  • Riot Blockchain completed its acquisition of Whinstone US from Northern Data AG (11.8M shares plus $80M cash). The site then had roughly 300 MW operating, with expansion to 750 MW then planned
    “completed its previously announced acquisition of Whinstone US, Inc.”
    Company · Oct. 2026 · grade B
  • Conversion pipeline (NOT contracted, never book as MW): the 700 MW gross envelope less 241 MW of contracted IT leaves mining capacity plus uncontracted conversion inventory; AMD holds options and rights over up to 150 MW
    “Riot intends to convert the full 700 MW of gross power capacity at its Rockdale Site for data center tenants”
    Company · Oct. 2026 · grade B
  • $28.0M impairment in Q2 2026 on long-lead equipment bought for a Rockdale mining expansion, written down because the capacity was redirected to data center expansion
    “$28.0 million impairment on long-lead equipment bought for a Rockdale mining expansion, impaired because Riot redirected the capacity to data center expansion”
    SEC filing · Oct. 2026 · grade B
  • Mining continues at Rockdale in parallel with the leases: 17.4 EH/s deployed at June 30, 2026; the site participates in ERCOT demand response and the 4CP program, and the Rockdale PPA carries sell-back and curtailment-cr
    “Rockdale: average operating hash rate 14.5 EH/s (Q2 2026); deployed 17.4 EH/s at June 30, 2026; all-in power cost 3.5 cents/kWh (Q2 2026)”
    SEC filing · Oct. 2026 · grade B
  • Portfolio figures are NOT campus figures: Riot reports 2.0 GW of fully approved power (Rockdale 700 MW + Corsicana 1,000 MW + Kentucky 300 MW) and 1.7 GW in Texas. The 1,000 MW belongs to Corsicana only
    “2.0 GW fully approved power”
    Company · Oct. 2026 · grade B
  • IT capacity: 241 MW
    “241 MW of contracted data center capacity”
    Company · Aug. 2026 · grade B
  • Interconnection status: 700 MW interconnection in place, energized, and described by Riot as fully approved; easements secured for potential expansion beyond 700 MW with no additional MW approved
    “leveraging Riot's existing, fully approved interconnection”
    Company · Aug. 2026 · grade B
  • Current target date: June 2028
    “initial deployment of 96 MW in December 2027, with the remainder being deployed in June 2028”
    Company · Aug. 2026 · grade B
  • Grid upgrade due to be energized by: May 15, 2028
    “Upgrade Temple Switch - Voss Lake Switch - Sandow Switch 138 kV Line.”
    Dataset · July 2026 · grade B
  • transmission upgrade (TPIT): Planned
    “Upgrade Temple Switch - Voss Lake Switch - Sandow Switch 138 kV Line.”
    Dataset · July 2026 · grade B
  • transmission upgrade (TPIT): Conceptual
    “Rebuild Voss Lake Switch - Sandow Switch 345 kV Line.”
    Dataset · July 2026 · grade B
  • Stated campus size: 700 MW
    “currently provides up to approximately 700 MW of developed capacity”
    SEC filing · June 2026 · grade B
  • Utility: Oncor Electric Delivery (transmission and delivery); ERCOT market; power delivered via the nearby Sandow Switch
    “power is delivered through the nearby Sandow Switch”
    SEC filing · June 2026 · grade B
  • Mining operations: Rockdale remains an operating mining site alongside the leases: 17.4 EH/s deployed at June 30, 2026; Q2 2026 all-in power cost 3.5 cents per kWh
    “Our Rockdale Facility currently provides up to approximately 700 MW of developed capacity for Bitcoin Mining and data center leasing”
    SEC filing · June 2026 · grade B
  • Utility service: 700 MW
    “The Rockdale Site features a 700 MW interconnection to the grid”
    Company · Jan. 2026 · grade B
  • Cooling: Two immersion-cooled buildings (200 MW) and five air-cooled buildings (500 MW)
    “two immersion cooling buildings offer 200MW of capacity, with five air-cooling buildings offering 500MW”
    News report · Oct. 2026 · grade C
  • Whinstone offered 400 MW with expansion to 700 MW under way (four new buildings, roughly 240,000 sq ft)
    “The Whinstone facility currently offers 400MW, but is undergoing an expansion to 700MW that includes four new buildings totaling approximately 240,000 sq ft”
    News report · Oct. 2026 · grade C
  • Seven-building, 700 MW mining campus completed: two immersion-cooled buildings (200 MW) and five air-cooled buildings (500 MW)
    “work started in 2020 and was completed in 2023”
    News report · Oct. 2026 · grade C
  • Easements have been secured for a potential expansion beyond 700 MW (trade press). No additional MW is approved, contracted or quantified - do not book
    “Easements have also been secured for potential expansion beyond 700MW”
    News report · Oct. 2026 · grade C
Money and contracts (92)
  • Tenant: AMD
    “the Company and Advanced Micro Devices, Inc. (“AMD”) entered into a long-term data center lease agreement (the “AMD Lease”) and amendment to the AMD Lease (the “AMD Lease Amendment”) at the Rockdale Facility”
    SEC filing · Aug. 2026 · grade A
  • Tenant: unnamed leading frontier AI lab
    “This transaction secures the Company’s second tenant at the Rockdale campus, following the lease with Advanced Micro Devices, Inc. (“AMD”) announced on January 16, 2026.”
    SEC filing · Aug. 2026 · grade A
  • data center lease and services agreement: capacity 191 MW
    “The Tenant Lease includes an initial deployment of 96 MW of critical IT load capacity anticipated to be delivered in December 2027, with the remaining capacity anticipated to be delivered in June 2028.”
    SEC filing · Aug. 2026 · grade A
  • data center lease and services agreement: initial term 20 years
    “The Tenant Lease carries an initial term of 20 years, commencing upon full deployment anticipated in June 2028, includes provisions for two successive five-year renewal terms at the option of the lessee”
    SEC filing · Aug. 2026 · grade A
  • data center lease and services agreement: expected contract revenue 9.1 USD billion (approx., initial term)
    “Executed 20-year data center lease with a leading frontier AI lab for 191 MW of critical IT capacity at Riot’s Rockdale campus, expected to generate approximately $9.1 billion in total contract revenue over the initial term”
    SEC filing · Aug. 2026 · grade A
  • tenant lease: capacity 191 MW critical IT
    “In August 2026, the Company entered into the Tenant Lease to provide 191 MW of critical IT load capacity at the Rockdale Facility”
    SEC filing · Aug. 2026 · grade A
  • tenant lease: scope Anthropic PBC end customer identity
    “a leading frontier AI lab, (the "Tenant"), entered into a long-term data center lease agreement (the "Tenant Lease") at the Rockdale Facility for an initial deployment of 191 MW of critical IT load capacity”
    SEC filing · Aug. 2026 · grade A
  • phase delivery: delivery 96 MW critical IT
    “The Tenant Lease includes an initial deployment of 96 MW of critical IT load capacity anticipated to be delivered in December 2027, with the remaining capacity anticipated to be delivered in June 2028”
    SEC filing · Aug. 2026 · grade A
  • tenant lease: contract value 9100000000 USD base rent, approx., initial term
    “is expected to generate approximately $9.1 billion in base rent over the initial term”
    SEC filing · Aug. 2026 · grade A
  • AMD Lease amended during H1 2026: deployment raised to 50 MW of critical IT capacity, with expansion potential up to a total of 200 MW (Q2 2026 10-Q)
    “entered into a long-term data center lease agreement (the “AMD Lease”) and amendment to the AMD Lease (the “AMD Lease Amendment”) at the Rockdale Facility for the deployment of 50 MW of critical IT load capacity”
    SEC filing · Aug. 2026 · grade A
  • Second Rockdale tenant lease executed Aug 2026: an unnamed leading frontier AI lab takes 191 MW of critical IT capacity under a 20-year initial term (approx. $9.1B expected total initial contract revenue; phased delivery
    “Executed 20-year data center lease with a leading frontier AI lab for 191 MW of critical IT capacity at Riot’s Rockdale campus, expected to generate approximately $9.1 billion in total contract revenue over the initial term”
    SEC filing · Aug. 2026 · grade A
  • AMD data center lease executed at Rockdale: initially 25 MW of critical IT capacity, 10-year initial term, +75 MW expansion options and +100 MW right of first refusal (announced Jan 2026)
    “we announced the execution of a long-term data center lease agreement (the “AMD Lease”) with Advanced Micro Devices, Inc. (“AMD”), to initially provide 25 MW of critical IT load capacity at the Rockdale Facility”
    SEC filing · March 2026 · grade A
  • Incentives: Milam County Chapter 312: Riot Rockdale Reinvestment Zone designated and a Tax Abatement Agreement with Riot Rockdale, LLC taken up on December 8, 2025; percentage, term and floors are not published in the co
    “approval of a Tax Abatement Agreement between Milam County, Texas and Riot Rockdale, LLC”
    Local government · Dec. 2025 · grade A
  • tax abatement: reinvestment zone
    “The Zone would be designated as the Riot Rockdale Reinvestment zone”
    Local government · Dec. 2025 · grade A
  • tax abatement: agreement terms finding
    “enter into a Tax Abatement Agreement with Riot Rockdale, LLC relating to construction and installation of data center(s)”
    Local government · Dec. 2025 · grade A
  • Owner companies: Whinstone US, Inc. (site subsidiary; Rockdale PPA counterparty); Riot Rockdale, LLC (Milam County abatement counterparty); Riot DC Logistics LLC (borrower, $573M facility)
    “In May 2020, Whinstone US, Inc. entered into the Rockdale PPA”
    SEC filing · Oct. 2026 · grade B
  • Tenant status: Signed leases: 25 MW delivered and operating (AMD); 216 MW contracted with phased delivery through June 2028
    “241 MW of contracted data center capacity”
    Company · Oct. 2026 · grade B
  • lease: termination
    “initial 10-year term... three successive five-year extension options”
    SEC filing · Oct. 2026 · grade B
  • lease: termination
    “initial 20-year term commencing upon full deployment (anticipated June 2028)... two successive five-year renewal options at the lessee's option”
    SEC filing · Oct. 2026 · grade B
  • AMD lease signed - the first hyperscale data center tenant at Rockdale (25 MW initial IT in Building G). Riot states it intends to convert the full 700 MW of gross power capacity at the site for data center tenants: a st
    “Riot intends to convert the full 700 MW of gross power capacity at its Rockdale Site for data center tenants”
    Company · Oct. 2026 · grade B
  • AMD exercised 25 MW of its expansion option (contracted AMD total 50 MW). Q1 2026 Data Center revenue was $33.2M; the first 5 MW was delivered in January 2026 on schedule
    “25 MW expansion option exercised, bringing total contracted critical IT capacity to 50 MW”
    Company · Oct. 2026 · grade B
  • Tenant Lease signed with an unnamed leading frontier AI lab: 191 MW critical IT, 20-year term from full deployment (June 2028), roughly $9.1B base rent. Company contracted total at Rockdale reaches 241 MW and roughly $9.
    “241 MW of contracted data center capacity”
    Company · Oct. 2026 · grade B
  • $573M interim credit facility (borrower Riot DC Logistics LLC; Morgan Stanley Senior Funding as agent) funds Tenant Lease long-lead equipment; it matures October 15, 2026 with extension tied to a refinancing, while an in
    “$573.0 million interim credit facility (the Credit Facility)”
    SEC filing · Oct. 2026 · grade B
  • Tenant status: signed
    “through the signing of a data center lease with AMD, firmly establishes Rockdale as a leading data center development opportunity”
    Company · Aug. 2026 · grade B
  • Tenants: AMD (50 MW contracted lease); unnamed leading frontier AI lab (191 MW contracted lease)
    “entered into a long-term lease agreement (the Tenant Lease) with a leading frontier AI lab for 191 MW of critical IT capacity”
    SEC filing · Aug. 2026 · grade B
  • Financing: $573.0M interim credit facility (August 2026) funds Tenant Lease long-lead equipment and development costs; an investment-grade credit backstop was being finalized USD
    “$573.0 million interim credit facility”
    SEC filing · Aug. 2026 · grade B
  • lease: scope 191 MW
    “191 MW of critical IT capacity at the Rockdale Facility”
    SEC filing · Aug. 2026 · grade B
  • lease: delivery schedule 191 MW
    “initial deployment of 96 MW in December 2027, with the remainder in June 2028”
    SEC filing · Aug. 2026 · grade B
  • lease: term 20 years
    “initial 20-year term commencing upon full deployment”
    SEC filing · Aug. 2026 · grade B
  • lease: contract value 9100000000 USD
    “approximately $9.1 billion of base rent over the initial term”
    SEC filing · Aug. 2026 · grade B
  • lease: extension options 2 options of 5 years each
    “two successive five-year renewal options at the lessee's option”
    SEC filing · Aug. 2026 · grade B
  • lease: contract value if extended 16100000000 USD
    “20-year lease expected to generate $9.1B in total initial contract revenue with two 5-year extension options, if exercised, would generate $16.1B in total potential contract revenue”
    Company · Aug. 2026 · grade B
  • lease: noi
    “cumulative NOI of $7.3 billion to $8.2 billion over the base term”
    Company · Aug. 2026 · grade B
  • lease: build standard
    “build-to-suit, Tier 3 data center”
    Company · Aug. 2026 · grade B
  • credit facility: facility amount 573000000 USD
    “$573.0 million interim credit facility”
    SEC filing · Aug. 2026 · grade B
  • credit facility: maturity
    “matures on October 15, 2026, subject to extension in connection with a refinancing”
    SEC filing · Aug. 2026 · grade B
  • credit facility: pricing
    “SOFR plus 2.75 percent per annum”
    SEC filing · Aug. 2026 · grade B
  • credit facility: recourse security
    “secured by substantially all of the Borrower's project assets; non-recourse to Riot Platforms, Inc. except for customary carve-outs”
    SEC filing · Aug. 2026 · grade B
  • credit facility: purpose
    “$573.0 million interim credit facility while the investment-grade credit backstop is finalized”
    Company · Aug. 2026 · grade B
  • lease: delivery schedule 25 MW
    “5 MW in January 2026 and 20 MW in May 2026”
    SEC filing · June 2026 · grade B
  • lease: power pricing
    “Power costs under the AMD Lease are passed through to AMD at cost”
    SEC filing · June 2026 · grade B
  • lease: tenant fit out
    “Riot performs design/procurement/installation services, reimbursed at cost plus margin (variable revenue)”
    SEC filing · June 2026 · grade B
  • lease amendment: scope exercise 25 MW
    “AMD exercised its option to lease 25 MW of the 75 MW expansion option”
    SEC filing · June 2026 · grade B
  • lease amendment: delivery schedule 25 MW
    “10 MW in November 2026 and 15 MW in May 2027”
    SEC filing · June 2026 · grade B
  • lease amendment: remaining option 50 MW
    “the remaining reserved capacity under the expansion option is 50 MW”
    SEC filing · June 2026 · grade B
  • lease amendment: first priority right 100 MW
    “a conditional, first-priority right to lease up to an additional 100 MW, exercisable in increments of not less than 50 MW, replacing the prior right of first refusal”
    SEC filing · June 2026 · grade B
  • power purchase agreement: contracted capacity 345 MW
    “345 MW of long-term fixed-price power”
    SEC filing · June 2026 · grade B
  • power purchase agreement: block 1 term 130 MW
    “130 MW, May 2020 through April 30, 2030”
    SEC filing · June 2026 · grade B
  • power purchase agreement: block 2 term 65 MW
    “65 MW, March 2022 through April 30, 2030”
    SEC filing · June 2026 · grade B
  • power purchase agreement: block 3 term 150 MW
    “150 MW, November 2022 through October 31, 2027”
    SEC filing · June 2026 · grade B
  • power purchase agreement: market purchases
    “additional power at market prices”
    SEC filing · June 2026 · grade B
  • power purchase agreement: sell back curtailment
    “sell-back/curtailment-credit rights on contracted power”
    SEC filing · June 2026 · grade B
  • power purchase agreement: collateral
    “Margin-based collateral; requirement was zero at June 30, 2026”
    SEC filing · June 2026 · grade B
  • Lease amendment: execution
    “25 MW expansion option exercised, bringing total contracted critical IT capacity to 50 MW”
    Company · April 2026 · grade B
  • Lease amendment: capacity 50 MW critical IT
    “bringing total contracted critical IT capacity to 50 MW with 50 MW of additional capacity option remaining on the initial option”
    Company · April 2026 · grade B
  • Lease amendment: capacity 100 MW critical IT
    “Additional 100 MW option (replaces prior AMD ROFR), with total potential capacity of 200 MW for AMD”
    Company · April 2026 · grade B
  • lease amendment: contract value 325000000 USD
    “Total Contract Revenue $311 million $325 million $636 million; Contract value for deployment over the initial 10-year term”
    Company · April 2026 · grade B
  • Site acres: 200 acres
    “Riot has completed the fee simple acquisition of 200 acres of land in Milam County, TX”
    Company · Jan. 2026 · grade B
  • Acres: 200 acres
    “completed the fee simple acquisition of 200 acres of land underlying its Rockdale Site”
    Company · Jan. 2026 · grade B
  • Land control date: Jan. 16, 2026
    “completed the fee simple acquisition of 200 acres of land underlying its Rockdale Site”
    Company · Jan. 2026 · grade B
  • Land price: 96000000 USD
    “for a purchase price of $96.0 million”
    Company · Jan. 2026 · grade B
  • Stated capital cost: AMD retrofit capex $89.8M for the initial 25 MW ($3.6M per MW); expansion capex approximately $3.3M per MW USD
    “capital expenditures of approximately $89.8 million for the retrofit of an existing building ($3.6 million per MW)”
    Company · Jan. 2026 · grade B
  • Tenant lease: execution
    “The signing of a Data Center Lease and Services Agreement ("Data Center Lease") with Advanced Micro Devices, Inc. ("AMD"), a leading innovator in high-performance computing, graphics and visualization technologies, at the Rockdale Site”
    Company · Jan. 2026 · grade B
  • Tenant lease: capacity 25 MW critical IT
    “Riot has entered into the Data Center Lease with AMD to deliver 25 MW of critical IT load capacity at its Rockdale Site.”
    Company · Jan. 2026 · grade B
  • Tenant lease: term 10 years
    “The Data Center Lease carries an initial term of 10 years and is expected to generate approximately $311.0 million in contract revenue.”
    Company · Jan. 2026 · grade B
  • Tenant lease: contract value 311000000 USD
    “Approximately $311 million of contract value across the initial 10-year term for 25 MW of critical IT load capacity”
    Company · Jan. 2026 · grade B
  • Tenant lease: renewal
    “Also included are three five-year extension options which, if fully exercised, would bring the total expected contract revenue to approximately $1.0 billion.”
    Company · Jan. 2026 · grade B
  • Tenant lease: capacity 75 MW critical IT
    “AMD holds an expansion option for an additional 75 MW of critical IT load capacity and a right of first refusal for another 100 MW.”
    Company · Jan. 2026 · grade B
  • Tenant lease: capacity 100 MW critical IT
    “AMD holds an expansion option for an additional 75 MW of critical IT load capacity and a right of first refusal for another 100 MW.”
    Company · Jan. 2026 · grade B
  • Tenant lease: delivery
    “Riot has commenced retrofitting one of its existing buildings, with delivery to AMD expected in two phases: the first in January 2026 and final completion in May 2026.”
    Company · Jan. 2026 · grade B
  • lease: scope 25 MW
    “initial deployment of 25 MW of critical IT capacity to AMD at the Rockdale Site”
    Company · Jan. 2026 · grade B
  • lease: term 10 years
    “initial 10-year term”
    Company · Jan. 2026 · grade B
  • lease: contract value 311000000 USD
    “expected to generate approximately $311.0 million of contract revenue”
    Company · Jan. 2026 · grade B
  • lease: extension options 3 options of 5 years each
    “three five-year extension options, which if fully exercised will result in total contract revenue of approximately $1.0 billion”
    Company · Jan. 2026 · grade B
  • lease: expansion option 75 MW
    “expansion option for an additional 75 MW of capacity”
    Company · Jan. 2026 · grade B
  • lease: right of first refusal 100 MW
    “a right of first refusal (ROFR) for another 100 MW, bringing total potential capacity for AMD to 200 MW”
    Company · Jan. 2026 · grade B
  • lease: lease structure
    “modified gross lease with annual escalators”
    Company · Jan. 2026 · grade B
  • land purchase: fee simple acquisition 96000000 USD
    “purchase price of $96.0 million”
    Company · Jan. 2026 · grade B
  • Land purchase (recorded deed): contract value USD
    “Recorded: Dec. 12, 2025 · Grantor: SLR PROPERTY I LP · Grantee: RIOT ROCKDALE LLC · Address: 000 ADDRESS EXCEPTION · City: CITY EXCEPTION”
    County deed records · Dec. 2025 · grade B
  • Tenant lease: execution
    “Riot confirmed a 20-year lease covering 191 MW of critical IT capacity at its Rockdale, Texas campus, with the initial contract expected to generate approximately $9.1 billion in revenue.”
    News report · Oct. 2026 · grade C
  • Tenant lease: capacity 191 MW critical IT
    “Riot confirmed a 20-year lease covering 191 MW of critical IT capacity at its Rockdale, Texas campus, with the initial contract expected to generate approximately $9.1 billion in revenue.”
    News report · Oct. 2026 · grade C
  • Tenant lease: term 20 years
    “Riot confirmed a 20-year lease covering 191 MW of critical IT capacity at its Rockdale, Texas campus, with the initial contract expected to generate approximately $9.1 billion in revenue.”
    News report · Oct. 2026 · grade C
  • Tenant lease: contract value 9100000000 USD
    “Riot confirmed a 20-year lease covering 191 MW of critical IT capacity at its Rockdale, Texas campus, with the initial contract expected to generate approximately $9.1 billion in revenue.”
    News report · Oct. 2026 · grade C
  • Tenant lease: renewal
    “The base agreement runs through June 2048, while two optional five-year extensions could increase the total contract value to approximately $16.1 billion.”
    News report · Oct. 2026 · grade C
  • Tenant lease: delivery 96 MW critical IT
    “Riot plans to deliver the first 96 MW in December 2027 and the full 191 MW by June 2028.”
    News report · Oct. 2026 · grade C
  • Tenant lease: delivery 191 MW critical IT
    “Riot plans to deliver the first 96 MW in December 2027 and the full 191 MW by June 2028.”
    News report · Oct. 2026 · grade C
  • Tenants: Advanced Micro Devices, Inc.; unnamed leading frontier AI lab (Bloomberg-reported as Anthropic; not confirmed by Riot)
    “Riot identified the customer only as one of the world's leading frontier AI labs, while Bloomberg subsequently reported that the tenant is Anthropic, the company behind Claude.”
    News report · Aug. 2026 · grade C
  • Tenant identity reported: Bloomberg has reported the 191 MW tenant is Anthropic; Riot has not named the tenant and declined to comment
    “reportedly Anthropic”
    News report · Aug. 2026 · grade C
  • Lease amendment: term 10 years
    “The additional lease also totals ten years with three five-year extension options, and is expected to generate $325m over the initial term.”
    News report · May 2026 · grade C
  • Lease amendment: contract value 325000000 USD
    “The additional lease also totals ten years with three five-year extension options, and is expected to generate $325m over the initial term.”
    News report · May 2026 · grade C
  • Lease amendment: delivery
    “The additional 25MW is set to be delivered by May 2027. The expanded capacity will be in the same building as the original 25MW.”
    News report · May 2026 · grade C
  • land purchase: avoided ground rent 130000000 USD
    “removes $130 million in potential future lease payments”
    News report · Jan. 2026 · grade C
Permits and government (8)
  • Construction stormwater general permit coverage (TXR15): active (ECHO-listed)
    “CWPName: WHINSTONE; NPDESIDs: TXR1513UZ; MasterExternalPermitNmbr: TXR150000”
    State agency · Oct. 2026 · grade A
  • Construction stormwater general permit coverage (TXR15): active (ECHO-listed)
    “CWPName: WHINSTONE US ROCKDALE GREENFIELD SITE; NPDESIDs: TXR1570BA”
    State agency · Oct. 2026 · grade A
  • reinvestment zone: designated
    “creation and designation of the County Reinvestment Zone as the Riot Rockdale Reinvestment Zone”
    Local government · Dec. 2025 · grade A
  • Milam County Commissioners Court: Items 9-12: public hearings and action on designation of the Riot Rockdale Reinvestment Zone (Chapter 312, Subchapter C) and approval of a Tax Abatement Agreement between Milam County an
    “approval of a Tax Abatement Agreement between Milam County, Texas and Riot Rockdale, LLC”
    Local government · Dec. 2025 · grade A
  • mining facility registration: registration regime applies; campus filing not located
    “PUCT has required large virtual-currency mining operators to register facilities since 2024”
    SEC filing · Oct. 2026 · grade B
  • air permit: none located
    “In May 2020, Whinstone US, Inc. entered into the Rockdale PPA”
    SEC filing · Oct. 2026 · grade B
  • Governor Abbott directed the PUCT and ERCOT to audit all data center projects in ERCOT's interconnection process before any may proceed. Riot's position is that the Tenant Lease uses Rockdale's existing, fully approved i
    “August 3, 2026, Governor Abbott directed the PUCT and ERCOT to audit all data center projects in ERCOT's interconnection process before any may proceed”
    SEC filing · Oct. 2026 · grade B
  • NOGRR 282 / NPRR 1308 ride-through requirements took effect August 1, 2026, with an exemption keyed to loads operational or ERCOT-approved on or before November 14, 2025. Riot discloses no assurance that Rockdale or its
    “Riot gives no assurance Rockdale and expansion capacity will qualify”
    SEC filing · Oct. 2026 · grade B
Legal (4)
  • Announced: Nov. 1, 2019
    “The Rockdale Municipal Development District (MDD) confirms today; Whinstone US, INC., has announced its plans to build a 100-acre data mining facility in Rockdale, Milam County, Texas”
    Local government · Nov. 2019 · grade A
  • Rhodium Encore settlement: Riot assumed 125 MW of power capacity at Rockdale that Rhodium had controlled under hosting arrangements
    “In April 2025, we entered into a settlement agreement with Rhodium Encore LLC... we assumed 125 MW of power capacity at the Rockdale Facility”
    SEC filing · Oct. 2026 · grade B
  • Lawsuits: Rhodium Encore LLC hosting litigation settled April 2025 (Riot assumed 125 MW of Rockdale power capacity); SBI Crypto suit against Whinstone over a 2019 hosting agreement reported in press (2023)
    “In April 2025, we entered into a settlement agreement with Rhodium Encore LLC... we assumed 125 MW of power capacity at the Rockdale Facility”
    SEC filing · April 2025 · grade B
  • Announced: Nov. 1, 2019
    “Whinstone US has announced its plans to build a 100-acre data mining facility in Rockdale, Milam County, Texas”
    Local government · Nov. 2019 · grade B
Site and other (6)
  • County code: 48331
    “designation of certain property in unincorporated Milam County as a Reinvestment Zone under Subchapter C, Chapter 312”
    Local government · Dec. 2025 · grade A
  • Developer: Riot Platforms, Inc. (owner-operator; site originally developed by Whinstone US, Inc.)
    “completed its previously announced acquisition of Whinstone US, Inc. from Northern Data AG on May 26, 2021”
    Company · Oct. 2026 · grade B
  • Construction began in early 2020 under Whinstone; hosting and mining operations began in 2020
    “supported us since we first broke ground in early 2020”
    Company · Oct. 2026 · grade B
  • Construction stage: operating with conversion - 7-building mining campus built 2020-2023 and operating; AMD data center retrofit of an existing building delivering in phases Jan-May 2026
    “The initial deployment will leverage Riot's existing infrastructure at the Rockdale Site. Riot has commenced retrofitting one of its existing buildings, with delivery to AMD expected in two phases: the first in January 2026 and final completion in May 2026”
    Company · Jan. 2026 · grade B
  • Water: Dedicated water supply at the site; volumes not stated in company disclosures
    “dedicated water supply, and dedicated fiber connectivity for data center operations”
    Company · Jan. 2026 · grade B
  • Original target date: 2020 - bitcoin mining campus (groundbreaking early 2020 under Whinstone; seven-building campus completed 2023)
    “work started in 2020 and was completed in 2023”
    News report · 2023 · grade C

Imagery and records: County deeds: ATTOM.