‘Clear scale up path’: Bernstein sees 80% upside for Riot after reported $9.1 billion Anthropic deal

Bernstein analysts estimate Riot has 80% upside potential. The reported deal with Anthropic, valued at $9.1 billion, illustrates Riot’s strategic transformation. AI colocation now accounts for 84% of Riot’s target enterprise value, versus only 11% for bitcoin mining. This major shift signals the sector’s pivot toward AI data center hosting.

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