RIOT

The public's data-center revolt spreads

MARA Holdings (NASDAQ:MARA | MARA Price Prediction) stock is falling 5% to $9.25 in Tuesday morning trading, extending a rough stretch for the largest publicly listed Bitcoin (CRYPTO:BTC) miners.

The AI race may be driving a new pricing benchmark. JPMorgan estimates Anthropic agreed to pay roughly $2.4 per watt per year for capacity at Riot Platforms, Inc‘s (NASDAQ:RIOT) Texas data center — about 33% above the firm's estimated industry average of $1.8 per watt per year — suggesting that ready-to-deploy AI infrastructure is commanding a growing premium as demand outpaces supply.

The Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) is up 97% over the past year even though bitcoin has lost 46% of its value in the same window.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.

Riot Platforms is rated Buy with a 12-month price target of $32–$35, reflecting transformative AI data center contracts. The 20-year, $9.1 billion Anthropic lease and the AMD contract shift RIOT toward energy infrastructure, with 241 MW of contracted AI capacity and 84% gross margins. Sum-of-the-parts analysis suggests RIOT is materially undervalued, with the current market cap near the value of the Anthropic deal alone and significant upside potential.

Bitcoin miner Riot Platform has struck a $9 billion, 20-year compute deal with Anthropic. CNBC's Tanaya Macheel joins 'The Exchange' to discuss.

The agreement is expected to generate $9.1 billion in revenue over its 20-year term. Most publicly traded bitcoin miners are increasingly valued by investors as owners of digital infrastructure rather than merely producers of bitcoin

Shares of Riot Platforms (NASDAQ:RIOT | RIOT Price Prediction) are working through a choppy post-earnings tape.

Riot Platforms Inc (NASDAQ:RIOT) shares rose about 4% on Tuesday after the bitcoin mining company announced a 20-year data center lease with a leading frontier AI lab in a deal valued at approximately $9.1 billion over its initial term. The tenant was not identified by Riot, but the deal has been widely reported to be with Anthropic.