Riot Platforms is halting its Bitcoin mining expansion and evaluating the conversion of its 600 megawatts capacity toward AI. Analysts from JPMorgan regard this move as encouraging, indicating a potential re-rating phase for Riot’s stock.
With a revised hash rate outlook dropping from 46.7 EH/s to 38.4 EH/s by the end of 2025, the company expects a substantial reduction in capital expenditures, aligning with the shifting market trend towards AI applications.