In a recent interview, the CEO of Riot Platforms expressed interest in exploring AI partnerships if suitable opportunities arise.
He pointed to Core Scientific’s lucrative hosting deal with CoreWeave, which could yield over $3.5 billion in 12 years, but remains doubtful about similar deals for Riot.
The CEO emphasized Riot’s Texas facilities, particularly the 750 MW site in Rockdale and the 1 GW operation in Corsicana, which offer access to talent and low energy costs. While open to AI, he noted that Riot’s focus remains on Bitcoin mining, as transitioning would require different technology.
Despite industry changes, Riot plans to expand its Bitcoin operations, leveraging new competitors to improve economic viability. Analysts suggest Riot’s stock is undervalued, trading at about $800,000 per MW compared to the sector average of $2.1 million. With Bitcoin prices projected to reach $200,000 by 2025, Riot’s earnings could surge.
Riot’s stock has risen 17.3% recently, though it remains down 54% year-to-date. The company also holds around 10,000 BTC, valued at approximately $630 million, reaffirming its long-term belief in bitcoin’s potential. Earlier, Riot attempted to acquire Bitfarms but reached a settlement restricting its ownership to 20% without board consent.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.