So, Riot Platforms, the Bitcoin miner, just decided to shake things up and appointed not one, not two, but THREE new directors to its board. Three wise humans now join the ranks, and one of them (cue applause) apparently knows how to turn Bitcoin mining rigs into AI wunderkinds. Who knew computers could have such dreams?
The lucky trio? Jaime Leverton, Doug Mouton, and Michael Turner. Combined, they bring a hefty toolbox of skills — converting mining assets for AI and high-performance computing (HPC) extravaganzas, plus something about real estate and data centers. Oh, and all this was announced on Feb. 13. A pre-Valentine’s Day gift to themselves because why not? 😎
Riot’s executive chairman Benjamin Yi couldn’t contain his enthusiasm, claiming these folks would bring “immediately applicable” expertise to turbocharge what he calls their “unique assets.” “Unique” being the key word here—we assume he’s not talking about grandma’s attic collection.
First up, Jaime Leverton was the captain of the good ship Hut 8 Mining Corp, a Bitcoin mining firm. Under her watchful eye, Hut 8 started dabbling in AI and HPC by picking up TeraGo’s data center business. You know, just casual shopping for server rooms.
Doug Mouton, meanwhile, is a brainiac who advised Fidelis New Energy on zero-carbon power magic and previously helped design data centers for Meta. Translation: He’s the guy you call when your tech gets hot—literally.
And then there’s Michael Turner, whose resume sounds so fancy it probably wears a tie to bed. The former boss of Oxford Properties Group, he knows everything about real estate investment, building things, and (no joke) capital allocation. Fancy pants alert! 🕴️
Now, let’s get serious for a second. After the Bitcoin halving (yes, that’s a thing) on April 20, mining rewards went poof—from 6.25 BTC to 3.125 per 210,000 blocks. Ouch. Naturally, miners are panicking a bit. CoinShares speculated in October that this financial pinch might be pushing mining companies to embrace AI as their new best friend.
VanEck, an asset manager, chimed in with its own speculation in August. They cooked up some math and decided that if miners diverted just 20% of their energy to AI and HPC by 2027, they could bag $13.9 billion in profits over 13 years. Not bad for a side hustle. 💸
Riot CEO Jason Les is clearly all-in on this AI-HPC thing. He talked about how they’re advancing their evaluation process to squeeze value out of their assets like an orange at breakfast. Yet Riot also threw in a bit of legalese: No promises are guaranteed. Their existing assets might not even be fit for this AI makeover. Translation: It’s still kind of a coin toss. 🤷♂️
Oh, and for a sprinkle of drama, D.E. Shaw, the mysterious investment firm, recently bought a stake in Riot. Word on the street (or more accurately, Reuters) says they’re planning a corporate makeover. Who doesn’t love a little shareholder intrigue to spice up the mining world?
So there you have it: Bitcoin mining, artificial intelligence, real estate expertise, and a soupçon of high-stakes chess. The future of blockchain never looked so unpredictable—or potentially profitable. Stay tuned for the next plot twist. 🎢
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2025-02-13 09:38