Bitcoin mining company Riot Platforms, which owns and operates large mining facilities in Texas and Kentucky, is underperforming in the stock market despite the surge in Bitcoin's value. In response, activist investor Starboard has taken a significant position in Riot and believes the company could transform itself by focusing on hyperscaler demand. Hyperscalers are cloud computing giants such as Amazon Web Services, Microsoft Azure, and Google Cloud, and they require infrastructure like Riot's mining facilities. Starboard plans to leverage Riot's existing capacity and attributes to tap into the hyperscaler market, potentially generating significant profits. Riot has also recently purchased $510 million worth of Bitcoin on the open market, suggesting a desire to increase its Bitcoin holdings.



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