Piper Sandler Remains Bullish on Riot Platforms (RIOT), Cites Potential AI and HPC Partnerships

Core Insights - Riot Platforms, Inc. (NASDAQ:RIOT) is recognized as one of the 12 most promising blockchain and crypto mining stocks by hedge funds [1] - Piper Sandler has raised its price target for Riot Platforms from $18 to $25 while maintaining a "Neutral" rating [2] - The firm anticipates potential partnerships in AI and high-performance computing (HPC) at Riot's facilities in Corsicana and Rockdale, Texas, due to their significant power access and proximity to major metro areas [3] Company Overview - Riot Platforms operates large-scale Bitcoin mining and engineering facilities across Texas and Kentucky, providing power infrastructure, custom electrical solutions, and data center services to industrial and governmental clients [5] Strategic Outlook - Piper Sandler believes that Riot Platforms is positioned to explore discussions for transitioning part of its Bitcoin mining operations towards high-performance computing applications, indicating potential long-term strategic diversification [4]