Riot Platforms, a prominent Bitcoin mining company, is under pressure from its shareholder Starboard Value to pivot towards artificial intelligence (AI) to enhance stock value. Starboard, which holds a 3.5% stake in Riot, urged CEO Jason Les to capitalize on the company's substantial power capacity for AI applications, potentially increasing the stock price from $15 to between $23 and $53 per share. The call for change comes as Bitcoin mining profitability declines, prompting miners to explore AI and high-performance computing (HPC) opportunities. Starboard's letter emphasized the urgency of transitioning to AI, highlighting Riot's advantageous sites for AI and HPC data centers. The shift reflects a broader trend among US-listed Bitcoin miners, who are increasingly valued for their AI capabilities rather than Bitcoin production. Despite challenges in funding AI infrastructure, Starboard believes Riot's strategic focus on high-quality tenants could position it as a prime candidate for consolidation if it fails to adapt swiftly.