Riot Platforms Appoints Data Center Expert to Lead AI and Cloud Expansion

Riot Platforms (NASDAQ: RIOT), a prominent Bitcoin mining company, has appointed Jonathan Gibbs as Chief Data Center Officer, signaling a strategic move to diversify beyond cryptocurrency mining into the burgeoning fields of artificial intelligence (AI) and cloud computing. Gibbs brings over 15 years of experience in designing and constructing more than one gigawatt of data center capacity across North America, Europe, and Asia. His most recent role was Executive Vice President at Prime Data Centers, where he oversaw significant projects throughout the United States.

In his new position, Gibbs will spearhead Riot’s initiative to develop enterprise-grade data centers tailored for clients requiring substantial computing power to support AI applications and cloud services. The company plans to leverage its existing control over 1.7 gigawatts of power capacity to build out these non-Bitcoin-focused facilities. CEO Jason Les emphasized that this initiative aims to “aggressively scale” to meet the surging demand for AI infrastructure.

This strategic pivot aligns with broader industry trends, as several cryptocurrency mining firms are repurposing their infrastructure to cater to the growing needs of AI and cloud computing sectors. The move also responds to investor pressures; activist investor Starboard Value has previously encouraged Riot to allocate some of its power capacity to AI applications. In February 2025, Riot appointed three new directors to its board, with input from Starboard and D.E. Shaw, to explore potential uses of its facilities for high-performance computing.

Riot’s expansion into AI and cloud services represents a significant diversification of its business model, potentially opening new revenue streams and reducing reliance on the volatile cryptocurrency market. As the demand for AI and cloud computing continues to rise, Riot’s existing infrastructure and new leadership position the company to capitalize on these growing sectors.