Riot Platforms, Inc. (NASDAQ:RIOT) is considered one of the best cryptocurrency stocks for long-term investment, with a Market Outperform rating and $25 price target from Citizens. The company’s shift from pure bitcoin mining to data-center model resulted in $637.16 million in trailing twelve-month revenue, doubling the prior year’s revenue.

Riot Platforms is focusing on redirecting power from mining to high-demand data-center and HPC capacity due to ongoing power shortages. The company is well-positioned to grow its customer base and leverage its assets as the HPC market expands. Cantor Fitzgerald reiterated an Overweight rating but cut the price target to $25 due to lack of updates on AI and HPC ambitions.

In October, Riot Platforms produced 437 bitcoins, a 2% decrease from September and a 14% year-over-year decline. Average daily production dropped to 14.1 bitcoins, while the company sold 400 bitcoins for $46 million. The average selling price per bitcoin was $114,970.

Riot Platforms is a vertically integrated Bitcoin mining company that also functions as a digital infrastructure provider. The company operates large-scale mining facilities and is known as a “Bitcoin-driven infrastructure platform.” While RIOT has investment potential, some AI stocks may offer greater upside potential with less downside risk.

Read more at Yahoo Finance: Riot Platforms, Inc. (RIOT) Shifts Toward HPC Growth, Analysts Stay Bullish