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Analysts at Bernstein Research and Brokerage have begun rating Figure Technology Solutions, giving it an 'Outperform' rating and setting a target price of $54.
Bernstein believes Figure is a pioneer in building blockchain-based traditional asset capital market infrastructure and that its broader ecosystem—including the loan issuance system, tokenized infrastructure on the Provenance blockchain, and the bilateral market for tokenized credit—can ultimately support tokenized stocks and other real-world assets.

With strategic development momentum and operational scalability, the company has become a leader in the industry, standing out as an industry leader. With record financial performance in the second quarter of 2025 and a clear infrastructure expansion roadmap, the company is demonstrating how vertical integration and power optimization can drive long-term profitability.
Financial Performance: The Foundation for Growth
Riot Platforms reported that in the second quarter of 2025, its net revenue reached a record $219.5 million, and adjusted EBITDA reached $495.3 million, thanks to a 143% year-over-year increase in Bitcoin mining revenue, reaching $140.9 million.