Activist investor Starboard Value is asking Riot Platforms (RIOT) to speed up its transition from Bitcoin miner to a data center company that could house hyperscaler tenants, Bloomberg’s Liana Baker reports. Starboard views Riot’s sites as attractive U.S. locations for high-performance computing and artificial intelligence data centers, with 1.7 gigawatts of fully available power, according to a letter reviewed by the publication. Starboard said that if Riot can monetize its power in line with recent transactions, it could generate more than $1.6B in annual earnings before interest, taxes, depreciation and amortization.
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