Jefferies Upgrades Riot Platforms to Buy with $28 Price Target Following New Land Lease
Jefferies has upgraded Riot Platforms (RIOT) from 'Hold' to 'Buy,' significantly raising its price target from $13 to $28. This upgrade is driven by a new 15-year powered land lease agreement in Corsicana, which analysts believe offers highly favorable economics with an average annual yield of 33%. The deal structure allows Riot Platforms to monetize the site while significantly reducing capital expenditure and execution risk. By utilizing a powered-land model rather than a traditional data center build, the company can reduce capex to approximately $6 million per IT megawatt, compared to the industry standard of $11–$15 million. This strategic shift is viewed by analysts as a potential market reset for how digital infrastructure assets are managed.
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Topics: Bitcoin Mining Capital Expenditure Digital Infrastructure Stock Upgrade
Part of the story Riot Platforms, Inc. - 8-K Filing (8 articles)