As Bitcoin workers look for new income sources, Riot taps officials to look into AI partnerships.

Riot Platforms, a cryptocurrency mining company, announced on Wednesday that it is looking into partnerships in the high-performance computing and artificial intelligence sectors to strengthen its position and create long-term revenue streams.

The NASDAQ-listed company announced that it would start conducting preliminary studies for potential use of high-performance computing ( HPC ) and AI at its Corsicana Facility in Navarro County, Texas, citing increased interest from several interested parties.

Riot’s investigation of AI technology capabilities is consistent with a growing tendency among Bitcoin miners to use their considerable power resources and data middle expertise to generate more revenue opportunities beyond crypto mining.

The shift comes as Bitcoin’s mine trouble has reached a historically higher level, peaking at 114.7 terahashes when it reached stop level 883 and 502 on February 10, according to statistics from CoinWarz.

Meanwhile, income from Bitcoin mining technology has drastically dropped over the year, to as low as$ 10.4 a time over an operating ratio of 60 % for an ordinary ASIC system like the Antminer S21+ Hydro, &nbsp, according to information from Hashrate Index.

Alongside its AI investigations, Riot appointed three new directors with appropriate experience: &nbsp, Hut 8 Mining CEO Jaime Leverton, past Meta top architect Doug Mouton, and real estate investment former Michael Turner.

Moving in to investigate AI and high-performance technology is a part of Riot’s efforts to “maximize price” for its “entire collection of assets,” according to Riot CEO Jason Les in a speech to .

Similar tactical transitions are being made by another significant crypto mining companies. Leverton, who just joined Riot’s table, recently led her company’s growth into HPC by acquiring TeraGo’s information core business.

Companies like Hut 8 and Core Scientific are repurposing their facilities to accommodate AI tasks by utilizing already-existing power supplies and information centers. &nbsp,

These growth initiatives are also intended to capitalize on the growing need for AI technology solutions while reducing dependence on Bitcoin’s rate fluctuations.

However, the business urged caution because there’s no guarantee that its assets will work well for the AI/HPC alteration or that partnerships may be negotiated on suitable terms.

However, Bitcoin miners and other people crypto companies are beating the industry, with their entire industry cover expanding by 14 % to bring their prices to$ 108 billion, according to JPMorgan.

Riot even operates Bitcoin mining services in Rockdale, Texas, and Kentucky, along with electrical wiring engineering businesses in Colorado. &nbsp,

The company’s stock, which trades on the NASDAQ under the ticker RIOT, is up 0.2 % on the day to$ 11.16, Google Finance data shows.