Riot Platforms: Crypto To AI Pivot Still In Progress (NASDAQ:RIOT)
Riot Platforms (RIOT) is undergoing a strategic pivot from pure crypto mining to a data center-focused business model, aiming to diversify revenue and reduce dependence on volatile BTC mining. Their Corsicana facility has the potential to generate $1 billion in business based on comparable data center contracts, though this opportunity is balanced by the ongoing need for financing which can lead to shareholder dilution. The article maintains a "Hold" rating, suggesting the story is improving but not yet sufficient for a stronger recommendation.
https://seekingalpha.com/article/4852901-riot-platforms-crypto-to-ai-pivot-still-in-progress