D.E. Shaw has acquired a stake in bitcoin mining firm Riot Platforms and may push for strategic changes, Reuters reported, citing sources familiar with the matter. The size of the hedge fund’s position remains undisclosed , and both Riot and D.E. Shaw declined to comment. This marks the second activist investor to take an interest in Bitcoin ( BTC ) miner Riot, following Starboard Value’s undisclosed stake last year. Starboard has urged Riot to consider allocating some of its power capacity to artificial intelligence. In response, Riot recently announced a formal review of AI and high-performance computing applications at its Corsicana, Texas, facility. Riot’s stock is trading at $10.98 at the time of writing, down around 1.2% on the day. You might also like: Commerce Secretary Lutnick: US dollar stablecoins should be audited Riot vs. Bitfarms Riot, valued at $3.8 billion, attempted to acquire rival miner Bitfarms last year, but the deal fell through. Instead, the two companies agreed to board changes at Bitfarms. D.E. Shaw, which manages $70 billion in assets, is primarily known for quantitative investing but occasionally engages in activist strategies, typically negotiating behind the scenes. The firm recently took a stake in Air Products and Chemicals, working alongside activist investor Mantle Ridge Capital to push for leadership and capital allocation changes. You might also like: Trump’s executive order could break Bitcoin’s 4-year cycle: Bitwise CIO