Bitcoin Miner Riot Platforms Appoints New Directors with AI Expertise
Riot Platforms, a leading Bitcoin miner, has appointed three new directors to its board: Jaime Leverton, Doug Mouton, and Michael Turner. This move follows a strategic partnership with investors Starboard Value and D.E. Shaw.
Starboard Value and D.E. Shaw, known for their quantitative investment capabilities, hold positions in Riot Platforms. They have been advocating for changes within the company, including exploring the use of Riot's power capacity for artificial intelligence (AI) and high-performance computing (HPC).
The newly appointed directors have a proven track record in overseeing the conversion of Bitcoin mining assets for AI and HPC applications. Riot Platforms will leverage their expertise to optimize its remaining power capacity at its Corsicana, Texas facility for potential AI/HPC uses.
Riot Platforms has also engaged Evercore and Northland Capital to evaluate the viability of these uses. This strategic move aligns with the growing industry expectations that cryptocurrencies and blockchain technology will benefit from a more favorable regulatory environment under the Biden administration.