Riot Platforms (RIOT) Stock Overview
Operates as a Bitcoin mining company in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 2/6 |
| Past Performance | 0/6 |
| Financial Health | 3/6 |
| Dividends | 0/6 |
RIOT Community Fair Values
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Analyst Price Targets
Riot Platforms, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$19.70 |
| 52 Week High | US$30.32 |
| 52 Week Low | US$11.50 |
| Beta | 3.83 |
| 1 Month Change | 3.60% |
| 3 Month Change | -28.18% |
| 1 Year Change | 12.44% |
| 3 Year Change | 88.70% |
| 5 Year Change | -28.00% |
| Change since IPO | -96.72% |
Recent News & Updates
Seeking Alpha • 9h
Riot Platforms: The $9.1 Billion AI Deal Changes The Story
Summary I continued to rate Riot Platforms a Strong Buy with an increased price target of $35, implying 75% upside from the current level. RIOT's 20-year, 191 MW AI lab lease at Rockdale secures $9.1B in contract revenue, driving $365–$411M in annual NOI at 80–90% margins. I retain my 20x FWD EV/EBITDA multiple, despite the sector median sitting closer to 14.2x. The main risks remain execution, financing and bitcoin mining volatility. RIOT still has to deliver the 191 MW frontier AI project on time. Read the full article on Seeking Alpha
Narrative Update • Sep 09
RIOT: Long Term AI Leases Will Redefine Power First Data Center Pivot
Riot Platforms' analyst price target has moved higher to an implied fair value of about $32.40 from roughly $29.50. Analysts point to long term AI data center leases, such as the $9.1b, 20 year Anthropic agreement, and progress on Corsicana and AMD related execution as key drivers of stronger modeled revenue growth and lower future P/E assumptions.
Narrative Update • Aug 26
RIOT: Long AI Data Center Leases Will Test Funding And Execution
Analysts raised the fair value estimate for Riot Platforms to $22 from $20, citing higher modeled revenue growth linked to recent long term AI data center leasing activity and continued progress on key contracts. Analyst Commentary Recent research on Riot Platforms has shifted toward its AI and high performance computing data center opportunity, with several firms lifting price targets following the long term Anthropic lease and progress at the Corsicana site.Recent updates
Seeking Alpha • 9h
Riot Platforms: The $9.1 Billion AI Deal Changes The Story
Summary I continued to rate Riot Platforms a Strong Buy with an increased price target of $35, implying 75% upside from the current level. RIOT's 20-year, 191 MW AI lab lease at Rockdale secures $9.1B in contract revenue, driving $365–$411M in annual NOI at 80–90% margins. I retain my 20x FWD EV/EBITDA multiple, despite the sector median sitting closer to 14.2x. The main risks remain execution, financing and bitcoin mining volatility. RIOT still has to deliver the 191 MW frontier AI project on time. Read the full article on Seeking AlphaNarrative Update • Sep 09
RIOT: Long Term AI Leases Will Redefine Power First Data Center Pivot
Riot Platforms' analyst price target has moved higher to an implied fair value of about $32.40 from roughly $29.50. Analysts point to long term AI data center leases, such as the $9.1b, 20 year Anthropic agreement, and progress on Corsicana and AMD related execution as key drivers of stronger modeled revenue growth and lower future P/E assumptions.Narrative Update • Aug 26
RIOT: Long AI Data Center Leases Will Test Funding And Execution
Analysts raised the fair value estimate for Riot Platforms to $22 from $20, citing higher modeled revenue growth linked to recent long term AI data center leasing activity and continued progress on key contracts. Analyst Commentary Recent research on Riot Platforms has shifted toward its AI and high performance computing data center opportunity, with several firms lifting price targets following the long term Anthropic lease and progress at the Corsicana site.
Narrative Update • Aug 11
RIOT: Long Term AI Data Center Leases Will Drive Future Colocation Upside
Riot Platforms' fair value estimate has shifted from $42.56 to $44.34 as analysts update price targets into the $30 to $40 range, citing the $9.1b, 20 year AI data center lease and the Corsicana site LOI as key supports for higher modeled revenue growth, profit margins, and a lower future P/E assumption. Analyst Commentary Recent Street research on Riot Platforms highlights a clear shift toward viewing the company as an AI and high performance computing data center platform with meaningful contracted cash flow visibility.Narrative Update • Jul 27
RIOT: Rich AI Lease Hopes Will Confront Ongoing Execution Risks
Riot Platforms' internal fair value estimate has been revised from $13.99 to $20.00 as analysts factor in higher price targets across the Street, along with increased emphasis on the company's AI and high performance computing opportunities and its secured power capacity. Analyst Commentary Recent Street research on Riot Platforms centers on its shift toward AI and high performance computing alongside its Bitcoin mining heritage, with a series of price target adjustments that highlight both enthusiasm for its secured power capacity and questions about execution on large AI colocation deals.Narrative Update • Jul 13
RIOT: Power First Data Center Pivot Will Leverage Secured Nuclear Backed Energy
Analysts have nudged their fair value estimate for Riot Platforms higher, with the modeled target rising from $28.55 to $29.50 as they factor in sector price target increases tied to power-backed AI and data center opportunities, along with slightly firmer profit margin assumptions. Analyst Commentary Recent Street research around Riot Platforms centers on its power-backed AI and high performance compute ambitions, with several bullish analysts adjusting price targets upward while a smaller group highlights execution and deal timing risks.Narrative Update • Jun 29
RIOT: Secured Power And Tier 3 Leases Will Drive AI Colocation Upside
Riot Platforms' updated analyst price target has increased from $36.87 to $42.56. Analysts cite growing confidence in the company's secured power position, data center buildout progress, and potential AI and high performance compute colocation opportunities as the key factors supporting this change.Analysis Article • Jun 17
Riot Platforms (RIOT) Stock Could Be 3.9% Undervalued After The Iran Deal Lifted Crypto Sentiment
The recent agreement between the U.S. and Iran to end hostilities and reopen the Strait of Hormuz put Riot Platforms (RIOT) back on traders’ screens, as crypto-linked stocks moved with improving sentiment. See our latest analysis for Riot Platforms. Beyond the immediate reaction to the U.S. and Iran agreement, Riot Platforms has seen momentum build, with a 90 day share price return of 93.99% and a 1 year total shareholder return of 175.96%, even though the 5 year total shareholder return is...Narrative Update • Jun 15
RIOT: Power First Data Center Pivot Will Shape Future AI Leasing
Analysts have lifted the average price target on Riot Platforms to about $28.55 from $25.84, citing increased confidence in the company’s secured power position, AI and high performance computing pipeline, and progress on data center capacity at Corsicana and Rockdale. Analyst Commentary Recent research commentary around Riot Platforms clusters into two camps, with bullish analysts focusing on the value of secured power and AI and high performance computing opportunities, while more cautious voices focus on execution risk and the timing of large tenant commitments.Narrative Update • Jun 01
RIOT: Power First Data Centers Will Face Prolonged Crypto And Lease Execution Risks
Riot Platforms' analyst price target has been revised from about $15.10 to roughly $14.00, as analysts balance reduced revenue growth assumptions and a higher future P/E with improving profit margin forecasts and continued interest in the company's data center and AI-driven power assets. Analyst Commentary Recent Street research on Riot Platforms paints a mixed picture, with some firms lifting price targets following site visits and AI data center updates, while others trim expectations as they reassess Bitcoin mining economics and execution timelines on the data center buildout.Narrative Update • Apr 30
RIOT: Power First Data Centers And AI Shift Will Drive Future Rerating
Analysts have trimmed their average Riot Platforms price target slightly, from about $37.05 to roughly $36.87. They appear to be balancing reduced Bitcoin mining value and peer multiple compression with continued interest in the company’s move toward high performance data centers and AI related opportunities.Narrative Update • Apr 16
RIOT: Power First Data Centers Will Drive AI Focused Earnings Shift
Riot Platforms' analyst price target has edged lower to $37.05 from $37.65, as analysts factor in reduced Bitcoin mining value and peer multiple compression while still highlighting the company's shift toward high performance data centers and AI focused power monetization. Analyst Commentary Recent research has centered on two themes for Riot Platforms: a reset in expectations for the Bitcoin mining business and rising interest in the company’s build out of high performance computing and AI focused data centers.Narrative Update • Apr 02
RIOT: Power First Data Center Shift Will Drive Future AI Upside
Narrative Update Analysts have trimmed their average price targets for Riot Platforms by a few dollars to reflect reduced Bitcoin mining value, weaker recent mining results and sector multiple compression. At the same time, they note the company’s shift toward higher value data center and AI infrastructure, supported by deals such as its AMD partnership and its growing focus on high performance computing demand.Narrative Update • Mar 18
RIOT: Power First Data Center Shift Will Drive Future Upside
Narrative Update The analyst price target for Riot Platforms has edged lower by about $0.50 as analysts factor in softer Bitcoin mining economics, slightly reduced growth and margin assumptions, and a higher future P/E, even as they continue to highlight the shift toward higher value data center and AI infrastructure opportunities. Analyst Commentary Recent Street research on Riot Platforms clusters around a common theme: pressure on Bitcoin mining economics and estimates, paired with growing attention on the shift toward high performance computing, AI and data center opportunities under the company’s Power First approach.Narrative Update • Mar 04
RIOT: Power First Data Centers And Crypto Headwinds Will Shape AI Outlook
The analyst fair value estimate for Riot Platforms has been trimmed by about $1.04 to $15.10 as analysts factor in weaker Bitcoin mining economics and higher expenses, which are partly offset by growing expectations for the company's data center and high performance computing initiatives. Analyst Commentary Recent research reinforces a mixed picture for Riot Platforms, with several firms cutting their price targets while still highlighting the long term potential of the company’s move into data centers and high performance computing, or HPC.Narrative Update • Feb 18
RIOT: Data Center Shift Will Recast High Performance Computing Role
Narrative Update The updated analyst price target for Riot Platforms now sits around $38, a modest shift that reflects analysts' views on the company's AMD and high performance computing deals, data center positioning, and recent HPC yield commentary. Analyst Commentary Recent Street research around Riot Platforms has tilted constructive, with several bullish analysts adjusting their price targets and highlighting the company’s progress in high performance computing and data center positioning.Narrative Update • Feb 04
RIOT: Power And AMD Data Center Deals Will Shape AI And Crypto Outlook
Analysts have raised their price targets on Riot Platforms by several dollars into the low US$30 range, citing improved expectations around high performance computing deals, data center credibility with partners such as AMD, and continued interest in the company as a key infrastructure provider for AI and bitcoin mining. Analyst Commentary Recent research coverage on Riot Platforms has leaned heavily on the potential of its high performance computing and bitcoin mining operations, with several firms updating price targets and refreshing their views as new deals have been announced.Narrative Update • Jan 21
RIOT: Data Center Contracts Will Redefine Role In High Performance Computing
Analysts have lifted their fair value estimate for Riot Platforms from US$22.00 to about US$38.12, pointing to updated views on its high performance computing contracts and data center positioning as key drivers behind the higher target range. Analyst Commentary Recent Street research on Riot Platforms has leaned positive, with several bullish analysts updating their models around the company’s growing role in high performance computing and data centers, as well as its position in crypto exposed infrastructure.Analysis Article • Jan 15
Subdued Growth No Barrier To Riot Platforms, Inc. (NASDAQ:RIOT) With Shares Advancing 26%
Those holding Riot Platforms, Inc. ( NASDAQ:RIOT ) shares would be relieved that the share price has rebounded 26% in...Narrative Update • Jan 06
RIOT: Power Capacity And AI Data Center Shift Will Drive Future Upside
Analysts now see Riot Platforms' fair value moving modestly lower to about $26.44 per share from roughly $27.50, tying the shift to recalibrated assumptions on profitability and growth, even as recent research highlights the potential value of its power assets amid rising interest in high performance computing and AI driven demand. Analyst Commentary Bullish Takeaways Bullish analysts point to the company’s access to power as a key asset, arguing that scarce power supply for high performance computing and AI could support the long term value of its power portfolio.Narrative Update • Dec 18
RIOT: Power Portfolio Will Drive High-Performance Computing And AI Data Center Upside
Analysts have lifted their price target on Riot Platforms to approximately $17.19 from about $11.79, citing rising conviction that the company can unlock significant value by pivoting its large power portfolio toward high performance computing and AI driven data center demand. Analyst Commentary Recent research notes reflect a sharp recalibration of expectations around Riot Platforms as investors reassess the value of its power assets in an AI focused world.Narrative Update • Dec 04
RIOT: Power Rich AI Data Center Pivot Will Drive Future Upside
Analysts have nudged our Riot Platforms fair value estimate slightly higher to $27.50 per share from about $27.33, reflecting incremental confidence that the company’s large power portfolio and pivot toward high performance computing and artificial intelligence infrastructure can support stronger long term profitability and justify higher sector-wide price targets in the $24 to $42 range. Analyst Commentary Street research remains broadly constructive on Riot Platforms, with a series of recent rating upgrades and sizable price target increases centered on the company’s transition from pure bitcoin mining toward high performance computing and artificial intelligence infrastructure.Narrative Update • Nov 20
RIOT: High Performance Compute Expansion Will Unlock Further Power Asset Value
Riot Platforms' analyst price target was modestly adjusted from $27.53 to $27.33 per share. Analysts cite the company’s transition toward artificial intelligence and high-performance computing as supportive of its valuation, despite shifts in expected growth and sector dynamics.Analysis Article • Nov 13
Why We're Not Concerned Yet About Riot Platforms, Inc.'s (NASDAQ:RIOT) 29% Share Price Plunge
Riot Platforms, Inc. ( NASDAQ:RIOT ) shares have retraced a considerable 29% in the last month, reversing a fair amount...Narrative Update • Nov 06
RIOT: Demand For AI Computing Will Drive Upside Amid Power Resource Constraints
Analysts have significantly increased their price target for Riot Platforms, with fair value estimates rising from approximately $22.47 to $27.53 per share. This adjustment is attributed to strengthened revenue growth forecasts and heightened demand in the AI and data center sectors.Analysis Article • Nov 06
Impressive Earnings May Not Tell The Whole Story For Riot Platforms (NASDAQ:RIOT)
Investors were disappointed with Riot Platforms, Inc.'s ( NASDAQ:RIOT ) earnings, despite the strong profit numbers. We...Narrative Update • Oct 23
Analyst Upgrades Highlight Riot Platforms' Strong AI Pivot and Rising Price Targets
Riot Platforms' analyst price target has been raised by $1.50 to $22.47, as analysts cite stronger AI and data center demand, along with improved strategic positioning, as driving factors for the upward revision. Analyst Commentary Recent Street research overwhelmingly highlights optimism regarding Riot Platforms' strategic direction and positioning within the evolving high-performance computing and artificial intelligence infrastructure space.Narrative Update • Oct 09
Expanding Data Centers And Mining Will Unlock Bitcoin Potential
Riot Platforms saw its fair value estimate rise from $19.21 to $20.97 per share, as analysts cite increased optimism from multiple price target upgrades. This optimism is linked to the company’s strategic expansion into high-performance computing and artificial intelligence operations.Analysis Article • Sep 27
Riot Platforms, Inc. (NASDAQ:RIOT) Stock Rockets 31% As Investors Are Less Pessimistic Than Expected
Riot Platforms, Inc. ( NASDAQ:RIOT ) shares have continued their recent momentum with a 31% gain in the last month...Narrative Update • Sep 25
Expanding Data Centers And Mining Will Unlock Bitcoin Potential
Riot Platforms’ consensus price target has been raised to $19.21 as analysts cite rising HPC infrastructure valuations—highlighted by the CoreWeave-Core Scientific deal—and note Riot’s substantial, strategically located capacity remains undervalued relative to peers. Analyst Commentary Bullish analysts raised Riot’s price target significantly based on a sum-of-the-parts valuation, factoring in the net present value of converting its 1.7GW operational capacity to high-performance computing (HPC) use.Seeking Alpha • Mar 06
Riot Platforms' AI/HPC Ambitions Could Be Derailed Under A Bitcoin Collapse (Rating Downgrade)
Summary I have downgraded Riot Platforms, Inc. to a strong sell due to anticipated inflation risks impacting Bitcoin's performance, similar to 2022. I foresee rising inflation due to tariffs and government cost-cutting measures, which could delay interest rate cuts until 2026. Historically, Bitcoin has struggled in such environments. With $1.7 billion in Bitcoin holdings, a 50% price drop could wipe out $850 million in long-term assets. While Riot has promising energy assets, it has yet to secure AI/HPC hosting deals. Meanwhile, competitors like TeraWulf and Core Scientific are getting ahead. I expect Riot's stock to decline significantly, potentially bottoming near $3 per share, unless the company liquidates Bitcoin reserves before inflation pressures mount. Read the full article on Seeking AlphaShareholder Returns
| RIOT | US Software | US Market | |
|---|---|---|---|
| 7D | -11.5% | 0.8% | -1.6% |
| 1Y | 12.4% | -9.0% | 12.1% |
Return vs Industry: RIOT exceeded the US Software industry which returned -9% over the past year.
Return vs Market: RIOT matched the US Market which returned 12.1% over the past year.
Price Volatility
| RIOT volatility | |
|---|---|
| RIOT Average Weekly Movement | 13.2% |
| Software Industry Average Movement | 9.4% |
| Market Average Movement | 6.8% |
| 10% most volatile stocks in US Market | 15.2% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: RIOT's share price has been volatile over the past 3 months compared to the US market.
Volatility Over Time: RIOT's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2000 | 816 | Jason Les | www.riotplatforms.com |
Riot Platforms, Inc., together with its subsidiaries, operates as a Bitcoin mining company in the United States. It operates in two segments, Bitcoin Mining and Engineering. The company offers comprehensive and critical infrastructure for bitcoin mining and data center services at its facilities.
Riot Platforms, Inc. Fundamentals Summary
| RIOT fundamental statistics | |
|---|---|
| Market cap | US$7.86b |
| Earnings (TTM) | -US$1.32b |
| Revenue (TTM) | US$674.51m |
11.0x
P/S Ratio-5.6x
P/E RatioIs RIOT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| RIOT income statement (TTM) | |
|---|---|
| Revenue | US$674.51m |
| Cost of Revenue | US$483.92m |
| Gross Profit | US$190.60m |
| Other Expenses | US$1.51b |
| Earnings | -US$1.32b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -3.53 |
| Gross Margin | 28.26% |
| Net Profit Margin | -196.28% |
| Debt/Equity Ratio | 38.4% |
How did RIOT perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/15 19:38 |
| End of Day Share Price | 2026/09/15 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Riot Platforms, Inc. is covered by 31 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Andrew Charles Beale | Arete Research Services LLP |
| Martin Toner | ATB Cormark |
| Gautam Chhugani | Bernstein |