Riot Platforms Explores AI Transition with New Board Appointments

The Bitcoin mining company is evaluating AI and high-performance computing opportunities as it seeks to diversify revenue streams amid industry challenges.

• Riot Platforms has appointed three new directors with expertise in AI, high-performance computing (HPC), and data center operations to guide its strategic shift.
• The company is exploring repurposing its Corsicana Facility in Texas for AI and HPC workloads, leveraging its existing infrastructure and power capacity.
• Investment banks Evercore and Northland Capital Markets have been engaged to assist Riot in identifying and negotiating potential AI and HPC partnerships.
• This move reflects a broader trend among Bitcoin miners to diversify revenue streams as mining rewards decline and operational costs rise.
• Riot's board changes follow input from investors Starboard Value and D.E. Shaw, who encouraged the company to consider AI-focused opportunities.

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