According to TechFlow, on July 24, Coindesk reported that JPMorgan said in a research report on Wednesday that the acquisition of Block Mining by Bitcoin mining company Riot Platforms was a reasonable move. The acquisition will make Riot the second largest production capacity among US listed Bitcoin miners, exceeding 2 gigawatts (GW).
Analysts noted that the deal reflects an updated assessment of undeveloped power assets. Although Riot's expansion potential in Corsicana, Texas is surprising, the acquisition is expected to add 1 EH/s to its computing power and could reach 16 EH/s by the end of 2025. JPMorgan gave Riot shares an "overweight" rating with a target price of $12.
