Riot Platforms is poised for substantial growth following Jefferies' upgrade from hold to buy, driven by a new powered land lease in Corsicana that offers an average yield of 33% with reduced capital expenditures of $6 million per megawatt, compared to the typical $11-15 million for data center builds.
Analyst Jonathan Petersen emphasized that this lease arrangement minimizes execution and financing risks, allowing Riot to monetize the site more effectively. The lease, effective from September 2027 and lasting 15 years, positions Riot favorably in the market, aligning with the consensus among all 23 analysts covering the stock, who rate it as a buy or strong buy.
Year-to-date, Riot's shares have already increased by 39%, reflecting positive market sentiment