Foley Represents Riot Platforms on $9.1B AI Data Center Lease at Rockdale Campus
Foley & Lardner LLP represented Riot Platforms, Inc. (NASDAQ: RIOT), a vertically integrated digital infrastructure company specializing in the development of large-scale data centers and bitcoin mining applications, in connection with a landmark 20-year data center lease with a leading frontier AI lab for 191 MW of critical IT capacity at Riot’s Rockdale, Texas campus.
The lease, which runs through June 2048, is expected to generate approximately $9.1 billion in total initial contract revenue and includes two five-year extension options that could increase the total potential contract value to approximately $16.1 billion. The agreement provides for a phased deployment schedule, with the initial 96 IT MW expected in December 2027 and the full 191 IT MW deployment expected by June 2028.
The transaction secures Riot’s second data center tenant at the Rockdale campus, following its previously announced lease with AMD. Together, the two agreements represent 241 MW of contracted critical IT capacity and approximately $9.8 billion of long-term contracted revenue, further establishing Riot’s position as a leading contracted AI data center developer.
Foley’s Data Centers & Digital Infrastructure team was led by partner Daniel Farris.
