D.E. Shaw takes stake in Riot, may push for changes

From Shaw has acquired participation in the Bitcoin Riot Platforms extraction company and can put pressure for strategic changes, Reuters reported, citing sources familiar with the issue.

The size of the hedgehist’s position remains not disclosedAnd Riot and Shaw refused to comment.

This marks the second activist investor to be interested in Bitcoin (BTC) Miner Riot, after the non -disclosed participation of Starboard Value last year. Starboard urged Riot to consider allocating part of his power capacity to artificial intelligence.

In response, Riot recently announced an official review of IA and high performance IT applications in its Corsicana, Texas facilities.

Riot’s shares are negotiated at $ 10.98 at the time of writing the editorial time, down around 1.2% on the day.

Riot vs Bitfarms

Riot, valued at $ 3.8 billion, tried to acquire a Bitfarms rival minor last year, but the agreement failed. Instead, the two companies agreed to climb on board modifications in Bitfarms.

From Shaw, which manages $ 70 billion in assets, is mainly known for quantitative investment but sometimes engages in activists’ strategies, generally trading behind the scenes.

The company recently participated in Air Products and Chemicals, working alongside the activists of the investor Mantle Ridge Capital to put pressure for changes in leadership and capital allowance.