Bitcoin miner Riot Platforms (RIOT) has attracted a second activist investor, D.E. Shaw, which has acquired an unspecified stake in the company. This follows a previous investment by Starboard Value, which sought to push Riot towards artificial intelligence and high-performance computing (AI/HPC) initiatives. D.E. Shaw, known for occasionally adopting an activist strategy, may exert similar pressure on Riot, although specifics were not detailed. Recent months have seen significant profit challenges in the bitcoin mining industry, pressuring miners to explore new revenue avenues. Riot has announced plans to assess potential AI/HPC applications for its remaining 600 megawatts of power capacity. The market has been volatile, with Riot experiencing an 18% decline in share prices this week, attributed partly to market shifts following announcements from competitors in the sector. This stems from a broader trend of miners adapting their strategies in light of ongoing profitability challenges in the bitcoin mining landscape.

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