Riot Platforms Inc (NASDAQ:RIOT) shares are trading higher. The company on Tuesday announced that it halted its previously announced Bitcoin (CRYPTO: BTC) mining expansion to evaluate AI and high-performance computing (HPC) opportunities.
What Happened: Riot announced that it’s launching a formal process to evaluate the potential development of the approximately 600 megawatts of remaining power capacity at the company’s Corsicana Facility for AI/HPC use cases.
The company has engaged data center industry consultant Altman Solon and other industry experts to assess the potential opportunity. Riot noted that it also plans to accelerate engagement with potential AI/HPC partners.
“While any conversion of …
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