Riot Platforms could see 80% upside as AI business overtakes Bitcoin mining. Bernstein assigns a outperform rating with a potential upside from current levels.

Anthropic secures a $9.1 billion deal with Riot for AI computing power. Valuation hitting $1.25 trillion by December 31 at 83.5% YES.

The deal includes two five-year extension options that could raise the potential contract value to $16.1 billion.