According to the Wall Street Journal, citing people familiar with the matter, US hedge fund Starboard Value has taken an undisclosed stake in Riot Platforms and is pushing the company to improve its business model.
Starboard has reportedly been urging Riot to convert some of its bitcoin mining sites into data centers so that it can host machines and provide high-performance computing (HPC) to big tech companies. Riot is currently a "pure play" bitcoin miner whose income comes only from bitcoin mining, while some other peers, such as Core Scientific (CORZ), use a lot of their facilities for HPC and artificial intelligence computing.
US hedge fund Starboard Value has taken a stake in Riot Platforms and is pushing the company to improve its business model
2024-12-12 22:31:24
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