- An important shareholder in Bitcoin miner Riot Platforms sent an urgent letter to the company’s CEO to get them to pivot further into AI.
- Starboard Value holds a 3.5% stake in Riot Platforms.
- Bitcoin miners have been increasingly moving away from the cryptocurrency and into high-powered computing and AI.
Bitcoin miners are now getting pressured by their own investors to forego their core business model and plough even further into AI. The shift could boost the stock’s price more than threefold.
On Wednesday, Starboard Value, which holds a 3.5% stake in the Bitcoin mining outfit Riot Platforms, sent a letter to Riot CEO Jason Les arguing the company is sitting on a goldmine of power capacity that could generate billions of dollars —…
