RIOT Stock Gains 4.7% as JPMorgan Lifts Target to $22

Bitcoin Miners Pivot to AI: Riot Platforms Locks In $9.1 Billion Anthropic Deal

Riot Platforms just signed a massive compute agreement. The Bitcoin miner will supply Anthropic with 191 megawatts of capacity at its Rockdale, Texas campus. The 20-year contract promises $9.1 billion in revenue. Add two optional five-year extensions and the total climbs toward $16.1 billion. Shares jumped more than 20% at first. They gave back most of those gains by day’s end. Markets love the headline. They question the execution. Yet the move…

RIOT stock gains 4.7% as JPMorgan lifts target to $22

RIOT stock has climbed 4.7% to $19.91 after JPMorgan raised its Riot Platforms price target to $22 following the Bitcoin miner’s $9.1 billion data center agreement reportedly involving Anthropic. JPMorgan sees momentum building at Riot Platforms On Aug. 1, JPMorgan…