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Riot Taps Advisors to Explore AI Partnerships as Bitcoin Miners Eye New Revenue Streams

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With declining Bitcoin mining revenue and rising difficulty, companies like Riot are seeking new revenue streams.
Riot Platforms, a major Bitcoin mining company, is exploring new revenue streams by venturing into AI and high-performance computing (HPC). The company has engaged advisors to help identify potential partnerships and opportunities in these fields. This strategic pivot comes as Bitcoin miners face challenges like increased competition, higher energy costs, and market volatility. By leveraging their existing infrastructure, which includes significant computing power and energy resources, Riot aims to diversify its business model. This move reflects a broader trend among Bitcoin miners to adapt to the evolving tech landscape, where AI and HPC demand is surging due to applications in data centers, cloud computing, and machine learning. The exploration into AI partnerships could provide Riot with a more stable income source, reducing reliance on the volatile cryptocurrency market.

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[ https://decrypt.co/305740/riot-taps-advisors-to-explore-ai-partnerships-as-bitcoin-miners-eye-new-revenue-streams ]