Riot Platforms (RIOT) Stock Surges 9% on Starboard's AI Data Center Expansion Push

Shares of Bitcoin mining company Riot Platforms (NASDAQ: RIOT) soared nearly 9% following activist investor Starboard Value's strategic recommendation. Starboard Value, a significant shareholder, is urging Riot to pivot its substantial infrastructure and power capacity towards high-growth artificial intelligence (AI) data centers. This move highlights the increasing convergence between Bitcoin mining operations and the AI sector, both of which are massive consumers of computational power and energy. Analysts suggest that Riot's extensive power purchase agreements and developed sites position it uniquely to capitalize on the booming AI infrastructure demand. The market's positive reaction reflects investor optimism about potential revenue diversification and enhanced valuation for Riot Platforms beyond traditional cryptocurrency mining.