Roth MKM keeps a Buy rating on Riot Platforms (RIOT) with a $20 price target after the company proposed acquiring Bitfarms (BITF) for $2.30 per share. The deal would help diversify Riot’s power footprint geographically and make it the largest publicly traded miner by the end of 2024 at 52 EH/s and a long-term power capacity of 2.2G, the analyst tells investors in a research note.
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