4 months ago
Bitcoin (BTC) miner Riot Platforms appointed 3 caller directors to its committee arsenic it explores imaginable opportunities successful artificial quality (AI) and high-performance computing (HPC).
The additions see Michael Turner, erstwhile president of Oxford Properties and planetary caput of existent property astatine OMERS, 1 of Canada's largest pension funds, alongside Jaime Leverton, ex-CEO of Hut 8 Mining (HUT), and Doug Mouton, a information halfway improvement seasoned from Microsoft and Meta, the institution said successful a merchandise connected Thursday.
The appointments travel arsenic Riot considers repurposing its mining infrastructure, peculiarly its Corsicana Facility successful Texas, for AI workloads, and has tapped concern banks Evercore and Northland Capital Markets to assistance with this transition.
Riot’s determination follows a broader manufacture inclination arsenic miners question caller gross streams amid rising vigor costs and little mining rewards aft the caller Bitcoin halving.
CoinDesk reported successful October that Core Scientific (CORZ), 1 of RIOT's rivals, has been gathering AI-focused infrastructure since 2019.
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