Riot Platforms’ pivot from Bitcoin mining to AI data centers is ‘encouraging,’ analysts say

Riot Platforms is halting its Bitcoin mining expansion and evaluating the conversion of its 600 megawatts capacity toward AI. Analysts from JPMorgan regard this move as encouraging, indicating a potential re-rating phase for Riot’s stock.

With a revised hash rate outlook dropping from 46.7 EH/s to 38.4 EH/s by the end of 2025, the company expects a substantial reduction in capital expenditures, aligning with the shifting market trend towards AI applications.