What type of news does CryptoWeekly cover?

CryptoWeekly covers cryptocurrency market updates, blockchain technology developments, and regulatory news.

How often is the news section updated?

CryptoWeekly updates its news section daily with the latest developments in the crypto industry.

Can I contribute news articles to CryptoWeekly?

Yes, guest contributions are welcome. Contact our editorial team to submit your article.

Is CryptoWeekly news biased?

CryptoWeekly strives to provide unbiased, factual, and up-to-date cryptocurrency news.

Riot Looks To Bring Bitcoin Mining To AI & HPC

Riot Platforms has appointed three new directors to its board: Jaime Leverton, Doug Mouton, and Michael Turner. These individuals bring some much-needed expertise in converting Bitcoin (BTC) mining assets to AI and HPC.

Maximizing Value

Riot’s Executive Chairman, Benjamin Yi, stated that the new directors’ skills would help maximize the value of the company’s assets. Leverton, former CEO of Hut 8 Mining, led the company’s expansion into HPC.

Additionally, Mouton has experience in data center design and construction at Meta, while Turner brings real estate investment expertise from his time as President at Oxford Properties Group.

Uncertainty Looms

Following the Bitcoin halving in April, which reduced mining rewards, the company is exploring both AI and HPC to diversify its revenue sources. Riot’s CEO, Jason Les, confirmed the ongoing evaluation of these technologies.

However, Riot noted that there is no certainty regarding the feasibility or financial benefits of converting its assets for AI/HPC use. Meanwhile, D.E. Shaw is reportedly increasing its stake in Riot and plans to push for changes within the company.