Riot Platforms: Transformation into an AI Data Center Provider – AMD Deal Expanded to 50 MW

Riot Platforms is transforming into an AI data center provider and is doubling the capacity of its ten-year contract with AMD to 50 MW. AMD has the option for a total of 200 MW. The core business of crypto mining is benefiting short-term from rising Bitcoin prices. In the last quarter alone, Riot produced 1,473 Bitcoins. The analyst consensus expects a doubling of revenue by 2029 and the achievement of profitability. The stock is breaking out to a new multi-year high. Riot Platforms (RIOT) has focused almost exclusively on the energy-intensive...