Riot Platforms, Inc. (NASDAQ: RIOT) is making headlines in the Bitcoin mining industry with its ambitious expansion into the data center space, signaling a strategic pivot that aligns with the evolving demands of the digital age. With a recent price target set by Cantor Fitzgerald, the company's stock is anticipated to see substantial growth.

Here's a closer look at the key insights from Riot's latest strategic moves:

- Cantor Fitzgerald has set a price target of $31 for Riot Platforms, Inc., indicating a potential upside of 64.63% from its current trading price.

- Riot plans to acquire 200 acres of land for $96 million, funded by selling 1,080 of its Bitcoin, to expand its Rockdale data center, the largest in North America by developed capacity.

- The company has entered into its first data center lease with Advanced Micro Devices (AMD) at the Rockdale site, with delivery expected to begin in January 2026.

Riot Platforms, Inc. (NASDAQ: RIOT) is a prominent player in the Bitcoin mining industry, known for its large-scale operations and innovative approaches to cryptocurrency mining. Recently, Cantor Fitzgerald set a price target of $31 for RIOT, suggesting a potential upside of 64.63% from its current trading price of $18.83. Riot's recent strategic move into the data center space has caught the attention of investors. The company plans to acquire 200 acres of land at its Rockdale data center site for $96 million. This acquisition will be funded by selling 1,080 of Riot's Bitcoin. The Rockdale site is North America's largest Bitcoin mining facility by developed capacity. The acquisition aligns with a broader trend among Bitcoin miners transitioning to data centers for artificial intelligence. Riot has executed its first data center lease with Advanced Micro Devices (AMD) at the Rockdale Site. The delivery of the data center is expected to begin in January 2026 and complete by May 2026.

Riot's stock has seen a significant increase of 13.61%, with a change of $2.25, trading at $18.82. The stock has fluctuated between a low of $17.30 and a high of $19.05 during the day. Over the past year, RIOT has reached a high of $23.94 and a low of $6.19. Riot's market capitalization stands at approximately $7 billion, with a trading volume of 38.42 million shares. The company's data center portfolio now boasts 1.7 gigawatts of fully approved power capacity, positioning it as a key player in one of the leading data center markets in the United States.