Bitcoin miner Riot Platforms stock jumps nearly 9% as Starboard urges AI data center expansion

The activist investor said Riot's 1.7 GW power capacity can drive premium AI hosting deals at Texas sites. What to know : Activist investor Starboard Value is urging Riot Platforms to speed up its shift from bitcoin mining to higher-margin artificial intelligence and high-performance computing infrastructure. Starboard argues that Riot’s 1.7 gigawatts of available power capacity at its Texas sites could support “premier” data centers and potentially generate more than $1.6 billion in annual EBITDA if effectively monetized. Despite a recent AMD deal, Riot has lagged rivals that moved earlier into AI, prompting Starboard to press executives to act with urgency to reposition the company as a long-term AI infrastructure provider.