Riot taps advisors to explore AI partnerships as Bitcoin Miners Eye New Revenue Streams

On Wednesday, Bitcoin-Mijnbouwbedrijf Riot Platforms said the partnerships investigating the artificial intelligence and the high-performance computer sector, because it aims to strengthen its activities and to generate sustainable income flows.

The Nasdaq-listed company said that the evaluations for potential AI and High-Performance Computing (HPC) used in its Corsicana facility in Navarro County, Texas, who called an increased interest from several potential partners.

Riot’s Exploration of AI Computing possibilities reflects a growing trend in Bitcoin -my workers to utilize their substantial power infrastructure and data center expertise for extra income options that go beyond crypto -mining.

The relocation comes as a mining difficulty on the Bitcoin network has reached a historic high, with a peak of 114.7 Terahashes when it arrived at Blok Heighte 883.502 on 10 February, facts from Coinwarz shows.

In the meantime, sales from Bitcoin -hardware have fallen considerably in the year, up to $ 10.4 per day on an operational margin of 60% for an average ASIC unit such as the Antminer S21+ Hydro, according to facts from Hashrate Index.

In addition to his AI explorations, Riot named three new directors with relevant expertise: Hut 8 Mining CEO Jaime Leverton, former meta senior engineer Doug Mouton and real estate investment veteran Michael Turner.

Boarding on exploring AI and high-performance computing is part of Riot’s initiatives to “maximize value” for his “full portfolio of assets,” said Riot CEO Jason lessons in a statement Decrypt.

Similar strategic shifts by other large crypto -mining operators play in the game. Leverton, who was just a member of the Riot board, previously led the expansion of its company to HPC by acquiring Terago’s data center activities.

Companies such as Hut 8 and Core Scientific are reused their infrastructure for AI -Deskloads, which use existing flow access and data centers.

These diversification movements are also aimed at reducing the dependence on Bitcoin’s price fluctuations and at the same time the growing demand for AI Computing sources.

However, the company warned that there is no guarantee that its assets are suitable for AI/HPC conversion or about which partnerships can be negotiated on favorable conditions.

Nevertheless, Bitcoin -mining and other public crypto companies are that Stray the marketWith their total market capitalization by 14% to bring their valuations to $ 108 billion, according to JPMorgan.

Riot also manages Bitcoin -My Facilities in Rockdale, Texas and Kentucky, together with Electric SwitchGear engineering activities in Colorado.

The shares of the company, which is traded on the Nasdaq under the Ticker -Rel, has risen 0.2% on the day to $ 11.16, according to Google Finance data.

Published by Sebastian Sinclair