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Riot Platforms, Inc. (RIOT) Shifts Toward HPC Growth, Analysts Stay Bullish

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the best cryptocurrency stocks to buy for the long term. On November 19, Citizens initiated coverage on Riot Platforms (NASDAQ:RIOT) with a Market Outperform rating and a $25 price target. The firm pointed to Riot’s shift from pure bitcoin mining to a broader data-center model, supported by third-quarter 2025 results showing $637.16 million in trailing, twelve-month revenue, more than double the prior year.

Photo by Executium on Unsplash

Citizens highlighted Riot’s plan to redirect power formerly used for mining into high-demand data-center and HPC capacity, an area constrained by ongoing power shortages. With a large infrastructure base already in place, Riot is seen as well positioned to grow its customer base and keep its “valuation flywheel” turning. The firm believes this asset-driven strategy gives Riot meaningful leverage as the HPC market continues to expand.

Earlier on November 5, Cantor Fitzgerald reiterated an Overweight rating but cut Riot Platforms, Inc. (NASDAQ:RIOT) price target to $25 from $26. The price cut comes on the heels of the company’s failure to provide an update on its artificial intelligence and high-performance computing ambitions. Likewise, the cut comes as the company produced 437 bitcoin in October, a 2% decrease from September and a 14% year-over-year decline.

Riot Platform’s average daily production shrank to 14.1 bitcoin in the month, down from 14.8 in September and 16.3 as of October 2024. On the other hand, the company sold 400 Bitcoins in the month, generating $46 million at an average price of $114,970 per Bitcoin.

Riot Platforms, Inc. (NASDAQ:RIOT) is a vertically integrated Bitcoin mining company that also operates as a digital infrastructure provider. The company focuses on building and operating large-scale Bitcoin mining facilities, which contributes to its role as a “Bitcoin-driven infrastructure platform.

While we acknowledge the potential of RIOT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIOT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Mid Cap Stocks to Buy According to Hedge Funds and 9 Best Gene-Editing Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.

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