Riot Platforms, a publicly listed Bitcoin miner from Wall Street (NASDAQ: RIOT), is strengthening its leadership team and accelerating its push into artificial intelligence computing. It has appointed three new board members with extensive data center and AI infrastructure experience. More importantly, it is neither the first nor the last company looking to diversify its services amid the increasingly challenging and margin-tight cryptocurrency mining industry.

Riot Platforms Bolsters Board, Accelerates AI Computing Evaluation

The NASDAQ-listed company named Jaime Leverton, Doug Mouton, and Michael Turner to its board of directors, bringing expertise in converting cryptocurrency mining operations to AI applications and managing large-scale data centers. The appointments come as Riot intensifies its exploration of repurposing some of its Bitcoin mining facilities for artificial intelligence and high-performance computing (HPC) operations.

“We are excited to continue to advance our AI/HPC evaluation process as we seek to maximize value for our entire portfolio of assets,” said Jason Les, CEO of Riot. “We believe there is an opportunity to deliver substantial value to our shareholders and are confident we have the right team in place that will be able to help us conduct this process as efficiently and effectively as possible.”

The company has also retained investment bank Evercore and Northland Capital Markets to guide its evaluation of AI and high-performance computing possibilities, particularly at its Texas-based Corsicana Facility. This follows the earlier engagement of data center consultant Altman Solon.

The Bitcoin Mining Company Adds Three Directors

Leverton, who previously led Hut 8 Mining Corp.'s expansion into high-performance computing, brings particularly relevant experience in transitioning crypto-mining operations to AI applications.

Mouton, a former senior engineer at Meta and Microsoft, contributes expertise in data center design and construction, while Turner adds real estate investment experience from his tenure as President of Oxford Properties Group.

Riot Platforms Announces Changes to Its Board of Directors and Provides Update on Formal Evaluation of AI/HPC Uses.

Jaime Leverton, Doug Mouton and Michael Turner to Join the Board and Bring Directly Applicable AI/HPC Conversion, Data Center and Real Estate Experience.

Retains…

— Riot Platforms, Inc. (@RiotPlatforms) February 13, 2025

The board restructuring, which received input from major shareholders Starboard Value LP and The D.E. Shaw Group, reduces the board to six members. Hannah Cho and Hubert Marleau will retire.

However, Riot emphasized that there's no guarantee its assets will be suitable for AI computing conversion or that partnerships will materialize on favorable terms.

Riot Platforms Eyes $38B Opportunity

Publicly listed Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term miners from Wall Street are increasingly exploring new revenue opportunities, particularly in HPC and AI. According to a recent analysis by investment management firm VanEck, this shift is driven by miners' efforts to diversify their operations and meet the growing demand for computational power in the AI sector.

Matthew Sigel, VanEck’s head of digital assets research, estimates that this transition could generate up to $38 billion in additional value for mining firms by 2027.

“AI companies need energy, and Bitcoin miners have it,” commented Sigel. “As the market values the growing AI/HPC data center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term market, access to power—especially in the near term—is commanding a premium.”

The connection between Bitcoin mining and AI computing lies in miners' access to energy resources and existing data center infrastructure. As AI development accelerates, the demand for power-intensive computing facilities has risen, making these operations well-positioned to support AI workloads.

Some mining firms have already adapted their business strategies. For example, HIVE Blockchain rebranded as HIVE Digital to reflect its broader focus beyond BTC mining. Meanwhile, at the end of January, Bitfarms hired consultants to assess how the company could enter the HPC and AI sectors.

MARA, the largest publicly traded Bitcoin miner on Wall Street, announced a strategic shift, pausing its planned 600 MW Phase II Bitcoin mining expansion to explore opportunities in AI and HPC.