Riot Blockchain, a company listed on NASDAQ, has announced plans to explore potential uses of artificial intelligence (AI) and high-performance computing (HPC) at its Corsicana Facility in Texas. The move reflects a growing trend among Bitcoin miners to utilize their infrastructure and expertise for additional revenue opportunities beyond crypto mining. This comes as mining difficulty on the Bitcoin network reaches record highs, while revenue from mining hardware has significantly dropped. Riot has appointed three new directors with relevant expertise and aims to maximize the value of its assets through these strategic shifts. Other major crypto mining operators are also diversifying into AI and HPC to reduce dependence on Bitcoin's price fluctuations. However, Riot cautions that there is no guarantee its assets are suitable for AI/HPC conversion or that favorable partnerships can be negotiated. Despite these uncertainties, Bitcoin mining companies continue to outperform the market, with a market cap expansion of 14% to $108 billion. Riot also operates mining facilities in Texas and Kentucky and has electrical switchgear engineering operations in Colorado.



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