None
EN
Riot Stock (RIOT) Soars 5% as Anthropic Strikes $9.1B Deal With Bitcoin Miner Riot
['Emir Abyazov', 'Editor-In-Chief At Coinpaper', 'Scaling Data-Driven Editorial Ops', 'Seo-Led Discovery', 'Audience-First Storytelling Across Crypto', 'Ai', 'Min Read', 'August']
Coinpaper
in early trading after the Bitcoin miner announced a 20-year data center lease worth about $9.1 billion.
Riot Secures $9.1 Billion Rockdale LeaseThe 20-year Rockdale lease is expected to generate about $9.1 billion in contract revenue through June 2048.
Riot Stock Gains as Data Center Revenue GrowsRiot $174.2 million in second-quarter revenue, up 14% from a year earlier.
Data center revenue reached $23.2 million, while Bitcoin mining revenue declined to $113.7 million during the quarter.
KBW maintained an Outperform rating and a $35 price target, while Needham raised its target to $30 from $28.50 after the Rockdale lease announcement.