Riot’s AI Pivot Over Bitcoin Mining: Analyst Says ‘Encouraging’ Move

Riot Platforms Inc (NASDAQ:RIOT) made a strategic pivot that is shaking up its future trajectory. The company announced it would pause its Bitcoin (CRYPTO: BTC) mining expansion at Corsicana and instead conduct a feasibility study on converting its remaining capacity to AI and high-performance computing (HPC) use.

This move has sparked a positive response from JPMorgan analyst Reginald L. Smith, who says he finds the decision “encouraging.”

Analyst Reaction: A Positive Shift For Riot

Smith has been advocating for Riot to explore AI at its Corsicana facility and this announcement aligns with his long-held views. In his report, he describes the move as “encouraging,” noting that …

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