On September 19, Riot Platforms rose 5.03% in regular trading, trading at $22.98 USD/share, with Turnover of $168 million.
Within the Application Software sector where Riot Platforms belongs, the overall sector showed mixed performance. Among individual stocks, Strategy up 13.68%, Circle Internet Corp. up 7.29%, IREN Ltd up 3.38%, Palantir Technologies Inc. down 0.6%, Salesforce.com down 1.61%.
Riot Platforms is a bitcoin mining company operating in North America. The company operates through Bitcoin Mining, Data Center Hosting, and Engineering segments. It also provides co-location services for institutional-scale bitcoin mining companies and engages in the design and manufacturing of power distribution equipment. In August, the company announced a landmark 20-year, 191-megawatt data center lease agreement with Anthropic, expected to generate $9.1 billion in total revenue, marking a significant pivot toward the AI/HPC infrastructure market. Multiple investment banks subsequently raised their price targets, with Morgan Stanley setting a $43 target and Macquarie adjusting to $35.
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