Riot Platforms’ new board members bring data center expertise, says Roth MKM

Roth MKM keeps a Buy rating and $20 price target on Riot Platforms (RIOT) while noting that the company’s board refresh represents a “directional shift toward AI and HPC”. Riot’s three new members are bringing expertise in data centers, energy, and real estate/asset management, while the company has also engaged additional financial advisors to assess using its 600MW Corsicana Facility for AI and HPC, building on prior feasibility studies, the analyst tells investors in a research note. These moves reinforce Riot’s potential planned diversification strategy beyond BTC mining, and its future AI/HPC developments will be key to stock performance, Roth added.