13-2-2025 (NEW YORK) Bitcoin (BTC) mining firm Riot Platforms has announced the appointment of three new directors to its board as the company explores potential opportunities in artificial intelligence (AI) and high-performance computing (HPC). The move signals a strategic shift for the miner, which is considering repurposing its infrastructure to diversify its revenue streams in response to industry challenges.
The newly appointed directors include Michael Turner, former president of Oxford Properties and global head of real estate at OMERS, one of Canada’s largest pension funds; Jaime Leverton, former CEO of Hut 8 Mining (HUT); and Doug Mouton, a seasoned data centre development expert with experience at tech giants Microsoft and Meta. The appointments were confirmed in a company statement released on Thursday.
Riot Platforms is reportedly evaluating the potential of adapting its mining infrastructure, particularly its Corsicana Facility in Texas, to support AI workloads. To facilitate this transition, the company has enlisted the expertise of investment banks Evercore and Northland Capital Markets. This strategic pivot reflects a growing trend within the cryptocurrency mining sector, as companies seek to offset rising energy costs and diminishing mining rewards following Bitcoin’s recent halving event.
The industry-wide shift towards AI and HPC is gaining momentum, with Riot’s competitors also exploring similar avenues. For instance, Core Scientific (CORZ), one of Riot’s key rivals, has been developing AI-focused infrastructure since 2019, according to a report by CoinDesk in October. This underscores the increasing convergence of cryptocurrency mining and advanced computing technologies as firms look to future-proof their operations.
Riot’s decision to bring on board industry veterans with expertise in real estate, data centre development, and cryptocurrency mining highlights its commitment to diversifying its business model. Michael Turner’s experience in large-scale asset management, Jaime Leverton’s leadership in the crypto mining sector, and Doug Mouton’s technical prowess in data centre operations position the company to navigate this transition effectively.