According to CoinMeta, after JPMorgan raised its target price for RIOT to $22, the stock rose by 4.7% to currently trade at $19.91. On August 1st, JPMorgan increased the target price for RIOT from $20 to $22 and maintained an overweight rating for the stock. Analysts stated that RIOT is “building momentum” after signing a data center agreement with Anthropic. This agreement is expected to generate approximately $9.1 billion in contract revenue for RIOT, with the initial contract period lasting until June 2048. RIOT also plans to convert 191 megawatts of IT capacity at its campus in Rockdale, Texas, for use by data center customers.