TechFlow news, December 13 — According to the Wall Street Journal citing sources familiar with the matter, U.S. hedge fund Starboard Value has taken a stake in Riot Platforms, though specific ownership details remain unclear, and is pushing the company to improve its business model.
The report said Starboard has been urging Riot to convert some of its Bitcoin mining sites into data centers to host equipment and provide high-performance computing (HPC) services for major technology companies.
According to its website, Starboard seeks investments in significantly undervalued companies and actively collaborates with management teams and boards to identify and execute opportunities that unlock value for all shareholders.
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