Riot Platforms, a Texas-based company best known for running one of the largest bitcoin mining operations in North America, just won rare back-to-back upgrades from major Wall Street banks. 

Reporting from Coindesk indicates that JPMorgan and Citigroup raised their ratings on Riot’s stock, saying its push into artificial intelligence (AI) could give it a critical edge over competitors.

Bitcoin mining involves using massive amounts of electricity to power computers that secure the Bitcoin network and earn block rewards in the form of newly distributed coins. But every four years, those rewards are cut in half. After the latest halving in 2024, many miners are struggling to stay…

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