Citi has maintained its "Buy" rating on Riot Platforms but lowered its price target from $23 to $21, after reducing its base-case bitcoin forecast to $112,000 from $143,000. The firm noted that legislative momentum behind the CLARITY Act has slowed and reduced forecasts across digital asset stocks. All covering analysts hold "Buy" ratings for Riot Platforms as of 30 March 2026, with a consensus price target of $26 implying 114.26% upside potential. Riot reported record 2025 revenue of $647.40 million, up from $376.70 million in 2024, driven primarily by bitcoin mining revenue increasing from $321 million to $576.30 million. The company finished the year with nearly $1.90 billion in liquidity and produced 5,686 bitcoin.

Riot Platforms, a Bitcoin mining company, has risen 10.6% since Jim Cramer discussed it on Mad Money in July, though shares remain down 9.6% year-to-date. The stock has gained 79% over the past year. During his Mad Money appearance, Cramer advised investors to own Bitcoin directly rather than mining stocks like Riot Platforms, comparing his preference to owning gold over gold miners. He stated he didn't "need leverage" or "trickiness". Recent developments include Riot's August earnings miss, which sent shares down 17%, and positive momentum from a January announcement about purchasing 200 acres in Texas and a 10-year AMD chip lease. In February, shares rose 5.7% after activist investor Starboard urged the company to expand into the data centre market.

Riot Platforms has raised eyebrows as a speculative investment combining Bitcoin mining with AI infrastructure development, according to an analysis by RA_Capital. Trading at $13.38, the company has pivoted to a dual revenue model leveraging 1.7 gigawatts of low-cost Texas power capacity. Bitcoin mining generated 92% of 2024's $376.7 million revenue, whilst the company holds 17,722 BTC worth approximately $1.65 billion. Riot recently secured a 10-year, $311 million lease with AMD for hyperscale data centres, with potential expansion to $1 billion. The company achieved profitability in 2024 with $109.4 million net income and industry-leading power costs of 3.4 cents per kilowatt-hour. Analysts cite a 12-month price target of $24–28, noting significant upside potential despite risks including Bitcoin volatility and execution challenges.