Riot Platforms plans expansion into artificial intelligence and high-performance computing workloads

Bitcoin miner Riot Platforms is considering an expansion into artificial intelligence and high-performance computing workloads and has appointed three new directors to its board to evaluate whether spare capacity can be repurposed.

Riot, which develops some of the largest mining facilities in the world, was initially against moving beyond crypto, but that changed in December when activist investor Starboard Value took a "significant position" in the business and urged it to change course. 

As for the board, Riot is adding three members, all with the input of the two activist investors: Doug Mouton, the former senior engineer lead of data center design engineering and construction at Meta and former VP of global data center delivery at Microsoft; Jaime Leverton, the former CEO of Hut 8 Mining Corp; and Michael Turner, president of real estate investor Oxford Properties Group.

"We would like to thank each of Starboard and D. E. Shaw for their respective input and constructive approach throughout this process. I would also like to thank Hannah and Hubert on behalf of the entire board for their significant contributions during their time as directors. Their roles in the growth and evolution of Riot have been instrumental and we are grateful for their service to Riot and our shareholders.”