Riot Platforms, North America’s biggest Bitcoin miner platform, is making big moves by adding three new members to its board to help steer its expansion into AI and high-performance computing (HPC). Bitcoin Miner Grows Board Directors According to reports , former CEO Eryn Leverton joined the board to oversee Bitcoin mining infrastructure as the company integrated AI into its operations. Furthermore, another appointee is Michael Turner, former President of Oxford Properties, a real estate arm of OMERS Global, bringing extensive leadership experience to the board. In addition, the final addition, Doug Mouton, has held key positions at Microsoft and Meta, adding valuable expertise in tech-driven scalability. It is worth noting that with these new appointments, Riot’s AI and HPC board now consists of six members, including existing members Hannah Cho and Hubert Marleau. “Jaime, Doug and Michael bring complementary expertise to the Board that will be immediately applicable as we continue to assess how best to maximize the value of our unique assets,” Riot Executive Chairman Benjamin Yi said. Riot Platforms Eyes AI for Growth Riot’s latest move comes as Bitcoin miners, including the company itself, seek new revenue streams amid declining mining profitability. With the rising demand for AI server hosting, many industry players are shifting focus to capitalize on this emerging opportunity. In addition, this move is happening against the backdrop of lower energy costs and the recent Bitcoin (BTC) halving, which has further reduced mining rewards . Consequently, Riot’s expansion into AI and high-performance computing appears to be a strategic response to the changing economy of the digital asset industry. Riot Considers AI Use for Its Power Assets Riot is looking into using its power assets in Texas for AI and high-performance computing (HPC). Interestingly, to help with this, the company has hired financial advisors from Evercore and Northland Capital Markets, along with data center experts from Altman Solon. Notably, since January, Riot has received interest from several potential partners. However, the company cautioned that its assets may not be suitable for AI or HPC conversion, the transition might not happen on favorable terms, and a beneficial deal for shareholders is not guaranteed. We are excited to continue to advance our AI/HPC evaluation process as we seek to maximize value for our entire portfolio of assets,” Les said on Thursday Meanwhile, analysts at JPMorgan and Bernstein see Riot’s move from Bitcoin mining to AI as a positive step. According to TradingView, Riot’s stock rose slightly by 0.2% on Wednesday but dropped 0.4% in pre-market trading on Thursday to $11.12. Last December, Riot announced its plans to raise $500 million to acquire more BTC . Riot noted that it intends to offer a $500 million private convertible senior notes due in 2030. The post Top Bitcoin Miner Makes Crucial AI Pivot appeared first on TheCoinrise.com .
