These Analysts Boost Their Forecasts On Riot Platforms After Q2 Results - Riot Platforms (NASDAQ:RIOT)

Riot Platforms Inc (NASDAQ:RIOT) on Monday reported upbeat second-quarter sales results.

Riot reported second-quarter revenue of $174.20 million, beating analyst estimates of $152.06 million, according to Benzinga Pro. The company reported a second-quarter adjusted EBITDA loss of $69.73 million.

Subsequent to quarter’s end, Riot signed a 20-year data center lease with a “leading frontier AI lab” for 191 megawatts of capacity at the company’s Rockdale campus.

"Today’s announcement of a landmark 20-year, 191-megawatt data center lease with a leading frontier AI lab marks a defining moment in our evolution into a leading developer of large-scale data centers," said Jason Les, CEO of Riot. "It builds directly on a strong second quarter, in which we completed delivery of the initial 25 megawatts to AMD on time and on budget."

Riot Platforms shares jumped 18.9% to $23.07 in pre-market trading.