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Colorado - Wed. 08/12/26 |
A Free Business Publication from Alpine Bank
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RIOT PLATFORMS INKS $9B LEASE DEAL WITH ANTHROPIC
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Riot Platforms Inc., a Colorado cryptocurrency and data center company, has inked another big artificial intelligence company to be a tenant in a deal that could eventually eclipse $16 billion in value. The Castle Rock-based owner of digital infrastructure revealed in its quarterly filing Monday with the U.S. Securities and Exchange Commission that it signed a lease with "one of the world's leading frontier AI labs" at a Riot Blockchain site near the small central Texas city of Rockdale. It was described as a 20-year lease that would run through 2048. It is for 191 megawatts of information technology load. The deal carries a value of $9.1 billion, although that could escalate to $16.1 billion should the company execute two five-year extensions. A source involved confirmed reporting that the deal is with Silicon Valley-based artificial intelligence giant Anthropic PBC.
The company is known for its large language model, known as Claude. Anthropic also has other deals, like an agreement to buy about $45 billion worth of computing power from Elon Musk's xAI, the parent company of X, formerly known as Twitter. The company earlier this year indicated in SEC filings that Advanced Micro Devices Inc. now has 50 megawatts of critical load capacity at the site at the former Alcoa Corp. operation. It could eventually expand its lease to 200 megawatts. The initial 10-year lease was for 25 megawatts and is expected to generate $311 million in revenue. It includes three five-year extension options that would bring the total value to $1 billion. Riot reported $174.2 million in second-quarter revenue, a 14 percent increase from the $153 million it registered during the same timeframe last year. That included $23.2 million of data center revenue.
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BOULDER STARTUP TARGETS OSTEOARTHRITIS WITH TISSUE REGENERATION
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Renovare Therapeutics Inc. launched in early April to pursue breakthrough osteoarthritis regenerative therapies, one of which fully restored joint tissues in animal studies in as little as four to eight weeks following a single injection. The therapies target a disease that affects 32 million Americans yet has seen little meaningful innovation in treatment for decades. “Most of the treatments today, which include pain medication like NSAIDs, topical analgesics, corticosteroid injections, they just mask the pain, they don’t actually treat the disease,” said CEO Liz Scott. Renovare Therapeutics’ therapies are designed to stimulate the body’s own repair mechanisms. The privately held Colorado biotechnology company spun out from a University of Colorado Boulder-led research initiative funded through the Advanced Research Projects Agency for Health’s (ARPA-H) Novel Innovations for Tissue Regeneration in Osteoarthritis (NITRO) program.
The company was just named as a “Startup to Watch” in July by BizWest. It was also recently accepted into Innosphere’s 2026 Life Sciences Incubator, a Fort Collins-based program that selected 38 life-science startups from across the country. Supported by a U.S. Economic Development Administration Build to Scale grant, the accelerator provides mentorship, commercialization support and access to investors. Led by Stephanie Bryant, a professor of chemical and biological engineering at CU Boulder and Renovare Therapeutics’ chief scientific officer, the multi-institutional research team received up to $33.5 million through the NITRO program to develop regenerative approaches to osteoarthritis.
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A COLORADO RIVER NAMED THE BEST SECRET FISHING SPOT IN THE U.S.
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Drought has wreaked havoc on summer fishing in Colorado where river flows have decreased to near-historic levels and led to many fishing closures, both voluntary and mandatory, on popular waterways. But there are still opportunities to make a few casts in what one website recently called the best “under-the-radar” fishing spot in the country. The Upper Conejos River in southern Colorado was named the top fishing destination that’s still something of a secret by Rightboat, an online marketplace for boats. The website ranked 10 places in the U.S. based on online search data, TripAdvisor reviews, publicly available tourism data, wildlife information, and geological data to determine which waterways offer plentiful natural beauty and few crowds. The less Google-searched and the less publicized on social media, the better.
Described as “a brilliant trout fishing destination in Colorado’s southern San Juan Mountains,” it took the top spot because it is so remote and requires a hike to reach the upper part of the river, which has several additional forks. Other anglers online tend to agree, with one fly retailer boasting, “there are places to hike in and not see a soul for weeks.” Since July, the river has been under voluntary afternoon fishing closures. People are discouraged from fishing between noon and midnight, when the water is at its warmest and fish become stressed, according to Colorado Parks and Wildlife. Anglers should use a handheld thermometer to test water conditions and move to cooler, higher-elevation waters once temperatures approach 71 degrees, the agency advises. CPW maintains a spreadsheet of all of Colorado’s fishing closures so locals can stay up to date with the latest conditions. If you’re itching to drop a line elsewhere in the U.S.
Rightboat’s top five includes:
- The Upper Conejos River in southern Colorado
- The Conasauga River in Georgia
- The Big Bend region of Florida
- The Cranberry River in West Virginia
- The Eleven Point River in Missouri.
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COLORADO SESQUICENTENNIAL TIME CAPSULE TO VISIT GLENWOOD BEFORE 50-YEAR NAP
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To celebrate America’s 250th and Colorado’s 150th anniversaries, the Great Colorado Capsule project, the largest time capsule project in the state’s history, is making its way across the state — inviting Colorado residents to contribute a piece of their personal and community story and help preserve 2026 for future generations. The Colorado Capsule state tour will make a stop at the Glenwood Springs Community Center from 9 to 10 a.m. Wednesday. “We are looking for items that reflect everyday life in Colorado,” the Colorado Capsule website reads. “The goal is to create one shared historical snapshot made up of thousands of personal stories, memories, and artifacts representing life across Colorado in 2026.” The capsule will be buried at The Ranch Events Complex in Loveland until Colorado’s bicentennial birthday in 2076.
- The Colorado Capsule website stipulates that no food, liquids, or organic materials will be accepted. The maximum size is 12 inches by 12 inches by 12 inches, and the selection committee is specifically looking for items that reflect everyday life in Colorado.
- Suggested submissions include letters, photographs, artwork, creative writing, postcards, and small keepsakes.
- A selection committee will review all submissions based on long-term preservation, feasibility, safety, and how well they represent the diversity of Colorado life and culture.”
After its stop in Glenwood Springs on Wednesday, the capsule will continue north to Craig and Steamboat Springs. The statewide tour concludes Friday with stops in Vail and Idaho Springs before making its way back to Loveland. For more information, visit the Colorado Capsule website. The mail-in deadline is Sept. 8, and the final in-person submission deadline is Sept. 10.
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GRAND VALLEY IRRIGATION WATER EXPECTED TO LAST THROUGH AUGUST
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Grand Valley Water Users Association expects to be able to continue to deliver reliable, though restricted, irrigation water to its users through the rest of August. Grand Valley Water Users Association General Manager Tina Bergonzini said their goal is to deliver a reliable supply of irrigation water until Sept. 1, 2026, at which point available water will become more dependent on weather. “That does not mean that there won’t be any irrigation water in the (Government Highline Canal) after Sept. 1,” Bergonzini said. “It just means that at that point in time, much of our supplemental supplies will be exhausted and we will be much more reliant on natural flow.”
Irrigators have been under water restrictions for this entire year due to the severe drought conditions. Water deliveries are being limited to 3/4 cubic feet per second (cfs) per 40 acres. Grand Valley has only been drawing a 1,450 cfs target flow at Cameo this year, Bergonzini said. That is 500 cfs below what the combined water rights of the Grand Valley’s irrigation companies can legally draw. Bergonzini said she can’t say for sure if or when irrigation water would no longer be available, but that will likely depend on monsoonal moisture and fall precipitation.
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CITY OF DURANGO ENTERS LEASE WITH FLC AHEAD OF CITY HALL CONSTRUCTION
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The City of Durango is entering into a sublease with Fort Lewis College ahead of the scheduled construction for a new city hall at 201 E. 12th St. The Prosperity Office will be relocating to FLC’s Center for Innovation at 835 Main Ave. as soon as Saturday. It is a yearlong lease with the option to renew in 2027. The Prosperity Office is currently divided between four locations, two of which will be moved to the Main Mall. While the relocation will consolidate some of the department’s staff, it will also foster community collaboration. The Center for Innovation’s partners include the La Plata Economic Development Alliance and the Southwest Colorado Small Business Development Center.
City Council’s vote authorized a yearlong lease that will cost Durango $23,870 annually, which equates to $19.25 per square foot. But the Prosperity Office isn’t the only department looking to relocate during the new city hall construction. The Community Development and Engineering offices are also seeking temporary relocation. The offices are looking to move in with Axis Health System, but a lease has not been finalized or signed yet.
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COMPLAINT ALLEGES SKI INDUSTRY GIANTS CONSPIRED
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A new class action lawsuit claims that ski industry giants colluded in an anticompetitive scheme to fix prices at destination resorts. Vail Resorts, Alterra Mountain Co., Powdr Corp., Boyne Resorts, the nonprofit National Ski Areas Association and the data firm RRS Associates Inc. are named as defendants in the lawsuit brought by three skiers in the Denver U.S. District Court on Aug. 5. The complaint alleges that the four ski companies, which own the vast majority of destination resorts across the U.S., worked with the industry trade association and data firm to share confidential revenue and pricing information.
The lawsuit claims this information sharing allowed the companies to artificially inflate prices for destination resort packages — including increasing season pass prices by about 40 percent and day ticket prices by 55 percent since 2020 — in violation of federal antitrust laws, including the Sherman Act. This is the second lawsuit filed against major ski companies in the past six months, alleging price fixing. Another lawsuit filed against Vail and Alterra in March claims that the two unlawfully inflated pass prices and suppressed competition. That case remains pending.
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BEAR SAUNTERS INTO BRECK LUXURY RESORT, STEALS M&Ms
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A bear made an early-morning visit to a Breckenridge hotel Tuesday, walking through a pair of automatic doors and helping itself to some chocolate before police officers scared it back into the woods using bright lights and the loud electrical crackle of a taser. An overnight staff member at Grand Timber Lodge called the Breckenridge Police Dept. before 4 a.m. after spotting the bear inside the building. Body camera footage posted to Facebook and timestamped 4:05 a.m. shows the bear strolling through a hallway by the hotel lobby and eventually making its way back outside as officers redirected it. The bear entered through the lodge’s automatic front doors before becoming confined in the front office area. The bear made its way into a snack storage room, knocking over several bags and indulging in some M&Ms. In the body camera video, the officer on scene can be heard saying, “I guess he really liked the M&Ms” after commenting that the room smelled like “wet dog.”
- Residents and visitors are encouraged to take basic precautions, including locking vehicles, removing food from inside cars and maintaining a safe distance from wildlife.
- Do not approach a black bear and instead quietly move away if the bear hasn’t spotted any passersby yet. But if a bear spots a person first, it’s advised to back away slowly, as running may lead to a chase. Remaining in groups is also highly recommended.
- If the bear begins to approach, people should wave their arms and yell “Hey bear!” until it retreats. If a bear continues approaching or refuses to leave, that’s when Colorado Parks and Wildlife recommends using bear spray.
- If a bear does make contact, the state agency advises to “fight back aggressively.”
Colorado Parks and Wildlife maintains a webpage with bear safety tips at CPW.State.CO.US/living-bears.
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FIVE GREAT AMERICAN BIKE RIDES OF 25 MILES OR LESS
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Whether you’re looking for a soothing seaside cruise or a blood-pumping Rocky Mountain ascent, these rides are perfect for a spectacular day trip. From a wildflower-lined path along the California coast to the tree tunnels of a rail trail in New York, you can see a lot of America’s most beautiful places on a bike. These five rides, all 25 miles or less, offer a variety of landscapes and difficulty levels. Four are paved, one is gravel, and all are car-free. Some don’t even require a vehicle to get to the beginning. Many of these trails also offer opportunities for camping, wildlife viewing, bird watching and swimming, so you might want to plan for frequent rest stops.
- California - Pacific Grove to Fort Ord Dunes State Park: This paved 20-mile out-and-back ride along the Monterey Bay Coastal Recreation Trail winds among the landmarks and rugged shorelines of the Monterey Peninsula. From Lovers Point Park, you’ll pass Monterey Bay Aquarium; Cannery Row, the former sardine-canning waterfront district famous from John Steinbeck’s 1945 novel of the same name; and Old Fisherman’s Wharf, where sea lions sunbathe in the fishy air.
- Wyoming - Moose to Jenny Lake: Some rides make you work for an epic view, but this one delivers jaw-dropping mountain vistas with only a gentle incline. From the Craig Thomas Discovery & Visitor Center, half a mile from the main Moose Entrance station at Grand Teton National Park, follow the paved multiuse Grand Teton Pathway for about eight miles. As you pedal through a glacier-carved valley with alpine meadows and sagebrush flats, the jagged Teton Range remains your constant companion. At the Jenny Lake Visitor Center, consider parking your bike and taking a boat across the lake.
- Colorado - Frisco to Vail Pass: Colorado excels at dreamy high-altitude rides, and this paved, 24-mile out-and-back excursion with 1,500 feet of elevation gain is sure to leave its imprint on you. This classic high-country trip heads out from Frisco on the Ten Mile Recreational Pathway, offering a visual feast with a Tour de France-caliber climb. Through Copper Mountain and up the east side of Vail Pass, take in the quaking aspens and whispering streams. But stay alert for e-bikers and wildlife like marmots and mountain goats. The path gets steep after Copper Mountain, with the average grade reaching around 7 percent on some final switchbacks up to the Vail Pass summit, at 10,662 feet. If you’d rather skip the ascent, Pioneer Sports and Rebel Sports, in Frisco, offer shuttle service (and bike rentals) to the top of the pass, so you can coast down instead. Whatever you do, the best post-ride reward is a Final Summit saison at Outer Range Brewing Co in Frisco.
- New York - Millerton to Copake Falls: Rolling north from the village of Millerton on this paved, 25-mile out-and-back section of the Harlem Valley Rail Trail, you’ll quickly find yourself immersed in purple phlox, marshlands, farms, forests and the curves of the Taconic Range. First imagined in the mid-1980s on the abandoned bed of the Harlem Railroad, the trail features tree tunnels, basking water snakes, turtles and busy beavers. Benches offer rest stops where you can let the sweet sounds of catbirds, American redstarts and yellow warblers carry you away. At Taconic State Park, cool off with a swim in a pond or hike to a waterfall. Download the HVRT app to see trail conditions, a map with bathrooms and parking, and a plant guide.
- Maine: Acadia Carriage Road Loop from Jordan Pond House: This 13.5-mile gravel loop in Acadia National Park follows a trail created by the philanthropist John D. Rockefeller Jr. as part of a 45-mile network of carriage roads to give visitors to Mount Desert Island peaceful motor-free byways. Start from the Jordan Pond House, and soon you’ll be climbing next to the pond (most of the route’s 1,000 feet of total climbing is front-loaded), over hand-hewn stone bridges and alongside waterfalls. Much of the rest of the ride winds among dense forests and lakes (at times so close you can see a snapping turtle’s nose rising above the crystal water). End back at the Jordan Pond House for its famous popovers, a blueberry lemonade and views of the Bubbles, the park’s iconic twin peaks, bathed in light worthy of a landscape painting. Riders can take the free Bicycle Express shuttle (no e-bikes) from Bar Harbor to the Eagle Lake Carriage Road Trail entrance and start there.
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FARMERS’ ALMANAC RELEASES WINTER FORECAST: WHAT TO EXPECT IN COLORADO
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Snow, sleet and surprises are in store this winter. The Farmers' Almanac released its 2026-27 winter weather forecast and predicts contrasts of conditions. It's hard to predict the weather, but the Farmers' Almanac has made forecast predictions for more than 200 years. The Farmers' Almanac released its official 2026-2027 winter weather map and forecast for the United States and Canada. The forecast expects some regions facing repeated storms, raw rain and heavy, wet snow, while others could see milder stretches with quick cold snaps. Below is a further breakdown of the almanac's forecast. The Farmers' Almanac said Colorado's region could be "cold, snowy at times, breezy." Northern areas, the Plains, Midwest and Great Lakes could see sudden snow squalls, blustery winds and bursts of bitter cold. The Almanac predicted the middle of the country could see rapidly changing road and field conditions from swings between thawing and freezing. U.S. 2026-2027 winter forecast • Midwest: Temperatures may average near normal across much of the West, northern Plains, Upper Midwest and Great Lakes. That doesn't signal, however, that winter will be mild. Fast-moving clippers, sudden cold snaps and brief snowy periods are likely. • The South: The Farmers' Almanac expects El Niño to remain an important influence through the season, favoring wetter-than-normal conditions across much of the southern states. The Almanac suggests areas in Southern California and the Desert Southwest through Texas, the Gulf Coast and the Southeast to watch out for frequent storm systems, muddy fields and occasional surges of cold air. • The Northeast: The almanac predicts the Northeast could face the most complicated patterns this winter. Areas on the coast could see more rain or mixed precipitation, while more inland communities may see heavy snow — particularly in January and February. • The Northwest: The Pacific Northwest may experience a somewhat less dependable snow season. Meanwhile, the northern Plains and Upper Midwest could turn drier at times.
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EL POMAR FOUNDATION APPROVES $335,000 TO SAN JUAN REGION ORGANIZATIONS
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El Pomar Trustees approved $335,000 allocated to 37 nonprofit organizations and government entities in the San Juan region at the Foundation’s June Trustees meeting. Through the Foundation’s grant making process, the following organizations were awarded grants:
- 7th Judicial District Child Advocacy Center (Montrose) – $7,500 for general operating support; regional merit • Blue Sage Center (Paonia) – $5,000 for general operating support; competitive
- Bright Futures (Telluride) – $30,000 for general operating support; regional council
- Calvary Ranch Colorado (Montrose) – $7,500 for general operating support; Trustee merit
- CASA of the Seventh Judicial District, Inc. (Montrose) – $35,000 for soil testing, engineering, site preparation, building security, furnishing, and training; regional council
- City of Ouray – $5,000 for community events; America 250 – Colorado 150 • Delta County – $20,000 for Family Resource Center of Delta County general operating support; regional council • Delta-Montrose Youth Services, Inc. – $2,500 for general operating support; regional merit
- Food Bank of the Rockies (Aurora) – $12,500 for Western Slope Branch; Colorado Assistance Fund
- Friends of the Wright Opera House, Inc. (Ouray) – $5,000 for general operating support; competitive
- Gunnison Country Food Pantry – $7,500 for direct human service needs; Colorado Assistance Fund
- Gunnison County – $5,000 for Dept. of Juvenile Services mental health services for youth; Colorado Assistance Fund
- Gunnison Watershed School District RE-1J – $10,000 for expansion of out-of-school programs; regional council
- Hinsdale County School District RE-1 (Lake City) – $5,000 for on-campus licensed professional counselor; regional council
- History Colorado (Montrose) – $5,000 for Ute Indian Museum general operating support; regional merit
- HopeWest (Grand Junction) – $15,000 for initial phase of construction for the memorial garden in Delta; regional council
- Lake Fork Health Services District (Lake City) – $5,000 for general operating support; Trustee merit
- Little Sprouts Community Preschool (Cedaredge) – $15,000 for general operating support; competitive
- Living Journeys (Crested Butte) – $7,500 for general operating support; competitive
- Log Hill Volunteer Fire Dept. (Ridgway) – $10,000 for fire shelters; Wildland Fire Fund
- Montrose Community Foundation – $2,500 for America and Colorado anniversary events; America 250 – Colorado 150
- Montrose County School District Re 1J – $5,000 for Northside Health Clinic general operating support; regional merit
- Montrose Lighthouse, Inc. – $7,500 for direct human service needs; Colorado Assistance Fund
- North Fork Senior Connections (Paonia) – $7,500 for direct human service needs; Colorado Assistance Fund
- North Fork Senior Connections (Paonia) – $10,000 for general operating support; competitive
- North Fork Valley Public Radio, Inc. (Paonia) – $5,000 for general operating support; regional merit
- Olathe Community Clinic, Inc. – $7,500 for direct human service needs; Colorado Assistance Fund
- Ouray County – $7,500 for transportation for veterans in Ouray and San Miguel Counties; Colorado Assistance Fund
- Paonia Players – $5,000 for general operating support; competitive
- Project Hope of Gunnison Valley – $5,000 for general operating support; regional merit
- San Miguel County (Norwood) – $7,500 for transportation for veterans in Ouray and San Miguel Counties to VA appointments; Colorado Assistance Fund
- San Miguel Resource Center (Telluride) – $10,000 for general operating support; competitive
- Sharing Ministries, Inc. (Montrose) – $5,000 for food assistance; Colorado Assistance Fund
- Surface Creek Community Services (Cedaredge) – $7,500 for food bank; Colorado Assistance Fund
- Telluride Historical Museum, Inc. – $5,000 for America 250 and Colorado 150 programs and events; America 250 – Colorado 150
- Tenderfoot Child and Family Development Center (Gunnison) – $5,000 for general operating support; regional merit
- Tri-County Health Network (Telluride) – $7,500 for direct human service needs; Colorado Assistance Fund
- Tri-County Health Network (Telluride) – $5,000 for general operating support; regional merit
- West End Family Link Center (Nucla) – $5,000 for direct human service needs; Colorado Assistance Fund
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MARKET UPDATE - 08/11/2026 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 08/06/2026)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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