20 Hidden Gem AI Stocks

11. Riot Platforms, Inc. (NASDAQ:RIOT)

Number of Hedge Fund Holders: 12  

Riot Platforms, Inc. (NASDAQ:RIOT) operates as a bitcoin mining company in North America. Although not directly involved in the AI business, the company still has tremendous value in the AI universe through the energy and GPU markets. As a miner of digital coins, the firm uses an extensive amount of energy to keep machines running, and has developed a business selling the excess energy it does not need. As AI data centers come online, Riot could use them as potential customers in this regard. In addition, it also has an extensive GPU system, which are also used in AI data centers, and Riot could repurpose these machines for AI tasks and become a valuable partner to AI firms in desperate need of GPUs.

Roth MKM recently maintained a Buy rating and $20 price target on Riot Platforms, Inc. (NASDAQ:RIOT) stock after the company’s September bitcoin production data saw 28% sequential increase for the month. Riot’s hash rate increased to about 28.2 EH/s following new machine installations and the company also improved operational uptime by 69%, the advisory detailed in a research note. Riot Platforms remains one of the best options for investors seeking pure-play BTC mining exposure, the advisory added.