The activist investor is said to be pushing Riot to optimize the use of its facilities the same way many of its colleagues already have.
Activist investor Starboard Value has taken a “significant position” in Bitcoin miner Riot Platforms, The Wall Street Journal said. The financial details were not reported, but the news gave Riot a boost in stock price.
According to the newspaper’s unnamed sources, Starboard Value has been urging Riot to repurpose some of its Bitcoin (BTC) mining capacity for hyperscalers — large data center users — which have grown drastically in number due to the artificial intelligence boom.
The newspaper had seen a statement by Riot confirming that talks had taken place between the parties. It quoted Riot as saying:
