Apparently an activist firm has taken an undisclosed(?) position in RIOT, with the intention of pivoting the company toward AI and other big data center purposes.
Non-paywall here: https://archive.md/Hk1wk
In a statement Thursday, Riot said it had spoken with Starboard on several occasions and welcomed its input, as well as the views of other shareholders. “We are committed to creating value for all shareholders, and we look forward to constructive dialogue with Starboard on ways to achieve this shared goal,” the company said.
Matt Levine's take isn't quite right (not same machines, I don't believe? Not same flexibility to shut off):
Bitcoin mining is basically an abstract process for turning electricity and computer chips into money. Artificial intelligence is also an abstract process for turning electricity and computer chips into money. Bitcoin mining was, for practical purposes, commercialized first, and so there are a lot of Bitcoin miners out there. But AI is plausibly bigger and more lucrative now, so there are some Bitcoin miners who are surprised and relieved to find that, actually, they can get into the AI business.
So Riot becoming an AI company now? Probs not; but the industries have synergies so why not.