Why?
The Leverage Effect: When Bitcoin moves 5%, Bitcoin miners often move 10 to 15%. If Bitcoin runs towards its USD 125k peak, Riot is the turbo charger.
AMD Partnership: Riot Platforms has signed a 10 year lease agreement with $Advanced Micro Devices(AMD)$ . AMD will lease power & facility capacity at Riot's Rockdale site with 25MW, expandable to 200 MV. This deal is worth USD311 million in contract revenue.
The Corsicana Growth Engine: This facility is being developed to accommodate both mining & HPC in Q126 as infrastructure for future hyperscale tenants.
Analysts are bullish on this diversification with average target price at USD 27.50.
Exciting times are ahead for Riot Platforms.
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- AllenBartlettΒ·02-26 17:44TOPSolid move with Bitcoin soaring! Riot's leverage is fire. [ηζΆ¨]1Report