An experienced advisor who specializes in converting Bitcoin mining assets to AI is hired by Riot.

Riot Platforms, a bitcoin mining firm, has welcomed three new board directors, one of whom specializes in converting Bitcoin mining assets to high-performance computing (HPC) and artificial intelligence.

Michael Turner, Doug Mouton, and Jaime Leverton have just been appointed to the Riot board. The three of them collectively have experience overseeing the conversion of Bitcoin BTCUSD mining assets for potential AI and HPC use, along with data centre and real estate expertise, the company said in a statement published on February 13.

Riot's executive chairman, Benjamin Yi, stated that the new board members will bring "directly applicable" experience in technology, bitcoin mining, and data centre operations as they look to "maximise the value of our unique assets."

Leverton was also responsible for guiding the company into the HPC space with the acquisition of TeraGo's data centre business. He was the former CEO of Bitcoin miner Hut 8 Mining Corp.

Mouton, previously a senior engineer lead of datacenter design and development at social media giant Meta, currently sits on Fidelis New Energy's advisory board, which is a company that designs zero-carbon power facilities.

Turner, Riot says, offers "deep real asset investment and capital allocation expertise" as a previous president of international real estate investor Oxford Properties Group.

Mining rewards were cut from 6.25 Bitcoin to 3.125 Bitcoin per 210,000 blocks after the halving on April 20.

Less profitable Bitcoin mining "could be the reason why there is an uptrend in mining firms diversifying their revenue streams to encompass AI," a CoinShares report issued in October argued.

As per an August study by asset manager VanEck, listed Bitcoin mining firms would be able to increase their profits annually by $13.9 billion over 13 years if they transitioned 20% of their power capacity to AI and HPC by 2027.

The firm is continuing to "enhance our AI/HPC assessment process as we strive to maximize value for our overall portfolio of assets," Riot CEO Jason Les said.

Riot declared that no guarantee exists that its "current assets are AI/HPC convertible," that the transition can be undertaken on terms which are beneficial from a financial point of view, or that an AI/HPC partnership can be formed, even with the additional staff.

It is reported by two individuals with direct knowledge of the situation that investment firm D.E. Shaw reportedly purchased an unspecified number of Riot shares. In September, Reuters cited the investor as wanting to force the miner to change.

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