Riot Platforms Surges 11% on Bitcoin Mining Optimism

NEW YORK, NY — Riot Platforms (NASDAQ: RIOT), the second-largest public Bitcoin mining company by market cap, saw its shares surge nearly 11% this week following a bullish analyst report. The stock climbed to $13.39 as of Friday, January 17, 2025, driven by optimism surrounding the integration of artificial intelligence (AI) and high-performance computing (HPC) data centers into its operations.

Piper Sandler analyst Patrick Moley highlighted Riot Platforms as one of four Bitcoin mining companies poised to benefit from partnerships with AI and HPC service providers. In his report, Moley projected that such collaborations could potentially triple earnings before interest, taxes, depreciation, and amortization (EBITDA) for these firms. “Riot has the highest level of production that could benefit from this shift,” Moley stated.

The report also emphasized the growing trend of cryptocurrency miners outsourcing computing power to specialized data centers. Moley predicted a surge in such deals throughout 2025, which could significantly enhance profitability for companies like Riot Platforms.

However, the analyst cautioned that the value of Bitcoin mining companies remains heavily tied to the price of Bitcoin itself. “Even with AI and HPC advancements, the trajectory of cryptocurrencies will continue to play a critical role in determining these companies’ success,” Moley added.

Riot Platforms, with a market cap of $5 billion, has been a key player in the Bitcoin mining sector. Its recent stock performance reflects investor confidence in the company’s ability to adapt to emerging technologies and market trends.

Despite the optimism, the cryptocurrency market remains volatile. Bitcoin’s price fluctuations have historically impacted mining companies’ profitability, and Riot Platforms is no exception. The company’s long-term success will likely depend on its ability to balance traditional mining operations with innovative partnerships in AI and HPC.

As of January 17, 2025, Riot Platforms’ stock price stood at $13.39, marking a 0.75% decline for the day but an 11% increase for the week. The company continues to attract attention from investors and analysts alike as it navigates the evolving landscape of cryptocurrency mining.