Riot Platforms Shifts Strategy: 400 MW to Bitcoin, 600 MW to AI/HPC
Riot Platforms, a prominent Bitcoin mining company, has revealed a strategic shift at its Corsicana facility. The move allocates 400 MW to Bitcoin mining and 600 MW to AI/HPC data centers. This comes as the company's Bitcoin reserves exceed $2 billion and its stock value per EH/s surpasses MARA Holdings by over 25%.
Riot Platforms' stock has soared by 140% over the past year, currently trading at a $6.5 billion market cap with 36.4 EH/s deployed. To achieve a $13 billion market cap by Q4 2026, the company aims to expand its hash rate to 65.7 EH/s and see the Bitcoin price appreciate to $160,000. This would enable daily production of around 32-34 BTC, translating to over 11,700 BTC annually.
The company's recent success is attributed to Bitcoin's rise to $110,000 and significant infrastructure growth. To monetize its 600 MW AI/HPC infrastructure, Riot Platforms plans to collaborate with NVIDIA for GPU hardware, AI/HPC tenants, and cloud service customers. Additionally, partnerships with telecom providers and colocation customers are key to generating predictable revenue from AI workloads at its Texas facilities.
With a treasury of 19,309 BTC valued at $3.1 billion at a Bitcoin price of $160,000, Riot Platforms' strategic pivot and expansion plans position it for significant growth. By leveraging its partnerships and vertical integration via ESS Metron, the company aims to achieve construction costs 15-20% below industry averages, further bolstering its competitive edge.
