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Starboard presses Riot Platforms to speed up AI data center push
Starboard presses Riot Platforms to speed up AI data center push
Reuters
Wed, February 18, 2026 at 11:02 PM GMT+9 2 min read
In this article:
RIOT
+6.62%
BTC-USD
-1.29%
Feb 18 (Reuters) - Activist investor Starboard Value on Wednesday pressed Riot Platforms to speed up AI data center deals, saying the bitcoin miner is well-positioned to capitalize on booming demand for artificial intelligence infrastructure.
Shares of Riot rose about 5% in premarket trading.
The push underscores a shift among crypto miners, which are looking to use their large power capacity for AI computing as bitcoin mining profits remain volatile and demand for AI data centers grows rapidly.
In a letter to Riot CEO Jason Les and Executive Chairman Benjamin Yi, Starboard said AI and high-performance computing companies have increasingly turned to cryptocurrency miners as attractive sources of near-term power capacity for data centers.
Riot’s shares have underperformed peers that have secured sizable AI/HPC deals, according to the letter.
“In such a dynamic and rapidly evolving AI/HPC demand environment, Riot must urgently seize this extraordinary opportunity,” Starboard Managing Member Peter Feld said in the letter.
Riot did not immediately respond to a request for comment.
Starboard, which owns about 12.7 million shares of Riot, said the company’s two main Texas sites, Corsicana and Rockdale, are well-positioned to capitalize on that demand.
The facilities together offer about 1.7 gigawatts of available power suitable for AI data center use, the letter said.
The company should focused on the high-quality, investment-grade tenants, including hyperscalers, rather than simply chasing the highest lease rates, the activist investor said.
Starboard described Riot’s recent agreement with Advanced Micro Devices as a “positive signal”, but characterized it as a small proof-of-concept deal.
The activist investor acknowledged steps Riot has taken to improve governance and operating efficiency, including appointing new directors with data center experience and hiring a chief data center officer.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Arun Koyyur)
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