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☝️Riot Platforms bought more than 500 million dollars in Bitcoin 🪙
🐋 The purchase came amid rumors that the Bitcoin mining company was under pressure from activist investor, Starboard Value. On December 12, The Wall Street Journal reported that Starboard urged Riot to repurpose some of its Bitcoin mining capacity to serve artificial intelligence models. Buying BTC has proven to be another way for Bitcoin miners to benefit investors.
"We are committed to creating value for all shareholders, and we look forward to a constructive dialogue with Starboard on ways to achieve this shared goal," Riot stated, according to The Wall Street Journal. If Bitcoin miners pivot towards AI, they could collectively unlock nearly 37 billion dollars in market capitalization, according to VanEck.
In particular, Riot could gain more than 4.8 billion dollars in market capitalization by focusing on serving AI companies, the asset manager estimated.
That would more than double Riot's market capitalization, which stands at around 4.4 billion dollars as of December 13, according to Google Finance.
#Bitcoin! $BTC
🐋 The purchase came amid rumors that the Bitcoin mining company was under pressure from activist investor, Starboard Value. On December 12, The Wall Street Journal reported that Starboard urged Riot to repurpose some of its Bitcoin mining capacity to serve artificial intelligence models. Buying BTC has proven to be another way for Bitcoin miners to benefit investors.
"We are committed to creating value for all shareholders, and we look forward to a constructive dialogue with Starboard on ways to achieve this shared goal," Riot stated, according to The Wall Street Journal. If Bitcoin miners pivot towards AI, they could collectively unlock nearly 37 billion dollars in market capitalization, according to VanEck.
In particular, Riot could gain more than 4.8 billion dollars in market capitalization by focusing on serving AI companies, the asset manager estimated.
That would more than double Riot's market capitalization, which stands at around 4.4 billion dollars as of December 13, according to Google Finance.
#Bitcoin! $BTC
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