Starboard Delivers Letter to Riot Platforms

Key Terms

ai/hpc technical

AI/HPC combines artificial intelligence—software that learns patterns from data—with high-performance computing, which uses very fast computers to run huge calculations. Think of AI as a chef following a recipe and HPC as an industrial kitchen that lets the chef cook thousands of meals at once; together they let organizations analyze massive amounts of information or run complex simulations much faster. Investors care because companies using AI/HPC can develop new products, cut costs, and scale services faster, potentially boosting revenue and market competitiveness.

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Believes Riot Is Well Positioned to Execute High-Quality AI/HPC Deals for Its 1.7 GW of Fully Available Power

Believes Riot’s Corsicana and Rockdale Sites Are Two of the Premier Sites for AI/HPC Hosting and Should Command Attractive Deal Economics

Urges Riot to Seize This Opportunity with Urgency

NEW YORK--(BUSINESS WIRE)-- Starboard Value LP (together with its affiliates, “Starboard”), a significant stockholder of Riot Platforms, Inc. (“Riot Platforms”, “Riot”, or the “Company”) (NASDAQ: RIOT), today announced that it has delivered a letter to Jason Les, Riot Platforms’ Chief Executive Officer, and Benjamin Yi, the Company’s Executive Chairman, with a copy to the Company’s Board of Directors.

The full text of Starboard's letter to the Company can be viewed here.

About Starboard Value LP
Starboard Value LP is an investment adviser with a focused and differentiated fundamental approach to investing in publicly traded companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218046322/en/

Investor contacts:
Peter Feld, (212) 201-4878
Gavin Molinelli, (212) 201-4828
www.starboardvalue.com

Source: Starboard Value LP