Bitcoin Miner Riot Platforms Appoints New Directors After Investor Input
[City, State] - Riot Platforms, a leading Bitcoin miner, has appointed three new directors to its board following input from major investors Starboard Value and D.E. Shaw.
This move comes after Reuters reported in January that D.E. Shaw had acquired a stake in Riot and was potentially pushing for changes. Starboard Value had also previously invested in the company.
The newly appointed directors, Jaime Leverton, Doug Mouton, and Michael Turner, bring experience in overseeing the conversion of Bitcoin mining assets for applications in artificial intelligence (AI) and high-performance computing (HPC).
Riot has retained Evercore and Northland Capital to assess potential AI/HPC uses for its remaining power capacity at its Corsicana, Texas, facility.
Riot's market valuation is approximately $3.8 billion. Last year, it attempted to acquire rival miner Bitfarms, ultimately leading to changes in Bitfarms' board structure.
The cryptocurrency industry remains optimistic about the potential benefits of a more favorable regulatory environment under the Trump administration.