Starboard Value said that “time is of the essence,” stressing urgency in Riot getting “more material deals completed” related to AI and HPC.
Activist investor Starboard Value is urging Bitcoin miner Riot Platforms to accelerate its expansion into high-performance computing (HPC) and artificial intelligence data centers.
In a Wednesday letter to executives, Starboard Value, which holds about 12.7 million shares of Riot, said that the company could generate between $9 billion and $21 billion in equity value contribution from AI/HPC data centers in Texas. The shareholder said that “time is of the essence,” stressing urgency in getting “more material deals completed” as it moves deeper into AI and HPC.
“With 1.4 [gigawatts] of gross capacity remaining to be monetized, Riot is in an enviable position – but it must execute with excellence and urgency,” said Starboard. “We believe Riot should be able to attract high-quality tenants for tier-3 data centers with terms similar to or better than the peer transactions announced towards the end of 2025.”
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