Starboard Value Urges Riot Platforms to Accelerate Transition to Data Center Company

Activist investor Starboard Value has called on Riot Platforms to expedite its shift from a Bitcoin mining operation to a data center company. Bloomberg posted on X that this request was made in a letter reviewed by the news outlet. Starboard Value's push comes as the company seeks to enhance its strategic direction and capitalize on the growing demand for data center services. Riot Platforms has been exploring diversification opportunities to reduce its reliance on Bitcoin mining, which has faced increasing scrutiny and regulatory challenges. The investor's letter highlights the potential benefits of a faster transition, aiming to position Riot Platforms more competitively in the evolving market landscape.