Riot Platforms has acquired approximately $510 million in Bitcoin, raising its total holdings to nearly $1.7 billion. This move aligns with activist investor Starboard Value's significant stake in the company, which has suggested repurposing mining capacity for AI services. Analysts at JPMorgan have also increased price targets for Bitcoin miners, recognizing the value of their BTC holdings and assets.
Activist investor Starboard Value has acquired a significant stake in Bitcoin miner Riot Platforms, prompting a rise in its stock price. Starboard is advocating for Riot to shift some of its mining capacity towards hyperscalers, capitalizing on the growing demand from the AI sector. Riot has expressed its commitment to engaging with Starboard to enhance shareholder value.
Pfizer CEO Albert Bourla expressed openness to ideas from activist investor Starboard Value, acknowledging the company's poor shareholder returns due to a significant drop last year. Despite pressure from Starboard, which holds a $1 billion stake, Bourla highlighted Pfizer's recent earnings beat and positive changes, including cost cuts and new board members. He also denied claims of discouraging former executives from joining Starboard's efforts.
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