Bernstein Raises Riot Platforms Price Target To $22, Maintains Outperform Rating
Bernstein Raises Riot Platforms Price Target To $22, Maintains Outperform Rating
By 2025, the company is expected to control 8% of the Bitcoin network, translating to an estimated 57 exahashes per second (EH/s) of the network's hash rate. Bernstein has issued an "Outperform" rating for Riot Platforms (NASDAQ:RIOT) with a price target of $22, indicating a 196% upside from its current price of $7.42.
伯恩斯坦已經爲納斯達克上的riot platforms（納斯達克：RIOT）發出了"表現優異"的評級，並設定了22美元的目標價，這表明與目前價格7.42美元相比上漲了196%。
What Happened: The investment bank bases its optimistic forecast on Riot's strategic focus on Bitcoin (CRYPTO: BTC) mining, extensive power capacity and its positioning in the cryptocurrency market.
發生了什麼：這家投資銀行基於riot在比特幣（CRYPTO: BTC）挖掘、龐大的能源容量以及在數字貨幣市場中的定位上做出了樂觀的預測。
Riot is currently building the world's largest Bitcoin mining data center in Corsicana, Texas, aiming for a 1-gigawatt (GW) power capacity.
Riot目前正在德克薩斯州科西卡納建造世界上最大的比特幣挖掘數據中心，旨在達到1千兆瓦（GW）的能源容量。
By 2025, the company is expected to control 8% of the Bitcoin network, translating to an estimated 57 exahashes per second (EH/s) of the network's hash rate.
到2025年，預計該公司將控制比特幣網絡的8%，相當於估計的57艾哈希每秒（EH/s）的網絡散列速度。
"We believe a Bitcoin bull market is the immediate upside, and expect Bitcoin to touch a peak cycle high of $200,000 by 2025 year-end," Bernstein analysts noted.
"我們認爲比特幣的牛市是近期的上漲趨勢，並預計比特幣將在2025年年底達到20萬美元的高峰週期。" 伯恩斯坦分析師指出。
Also Read: BlackRock's Ethereum ETF Lags Behind Its Bitcoin ETF—Here's Why
還閱讀：貝萊德的以太幣ETF落後於其比特幣ETF—原因在這裏
This emphasis on Bitcoin mining sets Riot apart from some of its peers, who are diversifying into AI data centers.
這種對比特幣挖掘的強調使riot platforms與一些轉向人工智能數據中心的同行有所區別。
Bernstein, however, favors Riot's decision to stick with Bitcoin mining, arguing that the AI market requires a longer gestation period of 18 to 24 months before becoming profitable. Riot's dynamic power strategy has also contributed to its positive outlook.
然而，伯恩斯堅定支持Riot堅持比特幣挖礦的決定，認爲人工智能市場需要18至24個月的較長孵化期才能實現盈利。Riot獨特的動態策略也爲其展望積極貢獻。
"Riot received ~$70 million in power credits in FY23, around 25% of its total revenue," the report mentions, highlighting Riot's flexibility in managing its power costs.
「在FY23年，Riot收到了約7000萬美元的電力抵扣，約佔其總營業收入的25%，」 報告提到，突出了Riot在管理電力成本方面的靈活性。
Riot's financial strategy also comes under the spotlight in Bernstein's assessment.
伯恩斯對Riot的財務策略也給予關注。
The company's focus on vertical integration and self-mining capacity gives it an edge, and the firm has avoided entering into hosting contracts.
該公司專注於垂直整合和自主挖礦能力，使其具備競爭優勢，並且避免了簽訂託管合同。
Moreover, Riot's flexible power strategy, including its involvement in demand response programs, is seen as reducing its all-in cash cost for Bitcoin mining.
此外，Riot靈活的電力策略，包括參與需求響應計劃，被視爲降低其比特幣挖礦的全現金成本。
Bernstein projects Riot's revenue to grow at a 149.6% compound annual growth rate (CAGR) from 2023 to 2025, with an EBITDA of approximately $1.1 billion in 2025.
伯恩斯預計，Riot的營業收入將從2023年增長149.6%的複合年增長率(CAGR)，到2025年約達11億美元的EBITDA。
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Image: Shutterstock
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譯文內容由第三人軟體翻譯。