The post Riot accelerates development towards Artificial Intelligence (AI): new members on the board and expansion strategies appeared on BitcoinEthereumNews.com.

Riot Platforms has announced a significant expansion of its operations in the artificial intelligence (AI) and high-performance computing (HPC) sector, with the addition of three new members to the board of directors.  This move reflects the growing trend among BTC miners to diversify their revenue, leveraging the increasing demand for AI infrastructure. Riot Platforms and the new AI strategy The increasing difficulty in Bitcoin mining and the reduction in profitability are pushing many companies in the sector to explore new opportunities.  Riot Platforms has decided to invest in the development of data centers dedicated to AI and HPC, sectors experiencing strong growth due to the increasing need for computing power for advanced machine learning models and other AI applications. To facilitate this transition, Riot has hired the investment banks Evercore and Northland Capital Markets to explore potential strategic partnerships in the AI sector.  These financial institutions will help the company identify and negotiate collaborations with prominent tech companies, accelerating Riot’s entry into the AI market. In support of this transformation, Riot Platforms has appointed three new members to the board of directors, each with significant experience in the technology and infrastructure sector: Michael Turner, former president of Oxford Properties and global head of real estate at OMERS, one of the largest pension funds in Canada. Jaime Leverton, former CEO of Hut 8 Mining, with extensive experience in managing critical infrastructure for mining and cloud computing. Doug Mouton, veteran of data center development at Microsoft and Meta, with a deep understanding of expansion strategies in the tech sector. The addition of these professionals strengthens Riot’s position in the AI sector, ensuring the company fundamental strategic skills for the integration of new technologies in its data centers. The evolution of mining towards AI computing With the halving of Bitcoin expected in 2024…

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Filed under: News - @ February 13, 2025 4:27 pm