Riot Platforms stock rating reiterated at Buy by BTIG on HPC potential
Investing.com
Published Jul 15, 2025 07:42AM ET
Investing.com - BTIG has reiterated a Buy rating and $22.00 price target on Riot Platforms (NASDAQ:RIOT), citing the company's power infrastructure portfolio and potential in the high-performance computing (HPC) market. The stock has shown strong momentum with an 8% gain over the past week, and analyst targets range from $11 to $25, according to InvestingPro data.
BTIG notes that Riot was an early adopter of leading with power infrastructure since acquiring Whinstone (currently 700MW) in 2021. The company's Corsicana facility now has 400MW active with another 600MW scheduled to come online later this year, making it the "crown jewel" of Riot's power infrastructure portfolio. With revenue growth of 60% in the last twelve months and analysts forecasting continued expansion, the company's infrastructure investments appear to be paying off.
The research firm highlights that while Riot built its power infrastructure to mine Bitcoin, accelerating demand for electricity access for HPC/AI data centers has created new opportunities for the company, which owns approximately 1.7GW of permitted power outside Dallas and Austin.
Despite being "behind the curve" compared to other Bitcoin miners pursuing HPC opportunities, Riot didn't officially announce plans to develop 600MW of capacity at Corsicana for HPC until January 2025.
BTIG concludes that while Riot wasn't the first Bitcoin miner to pivot to HPC, its two large-scale locations in Texas give it "the potential to be one of the biggest HPC co-location providers of the BTC miners." According to InvestingPro , Riot maintains a healthy current ratio of 3.23 and operates with moderate debt levels, providing financial flexibility for its expansion plans. For deeper insights into Riot's financial health and growth prospects, including 15+ additional ProTips and comprehensive valuation analysis, check out the full Pro Research Report available on InvestingPro.
In other recent news, Riot Platforms reported its June 2025 production results, mining 450 bitcoin, which marked a 12% decrease from the previous month but a 76% increase compared to June 2024. The company sold 397 bitcoin in June, generating net proceeds of $41.7 million at an average price of $105,071 per bitcoin. Riot maintained its deployed hash rate at 35.5 EH/s, with its average operating hash rate showing significant year-over-year growth. Additionally, Riot earned $5.6 million in power credits, which helped offset power costs. In analyst developments, Needham raised its price target for Riot Platforms to $15 from $12, citing the attractiveness of its Corsicana site. Northland also reiterated its Outperform rating for Riot, maintaining a price target of $15. Riot Platforms is focusing on expanding its data center capabilities, with strategic hires and plans to leverage its assets beyond Bitcoin mining. These developments highlight Riot's ongoing strategic shifts and operational adjustments in the evolving cryptocurrency landscape.
Get The News You Want
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.