Bitcoin Mining Not End Goal, But ‘Means To An End’ To Boost Data Center Business, Says Riot Platforms CEO
Jason Les, CEO of Riot Platforms Inc. (NASDAQ:RIOT), labeled Thursday its Bitcoin (CRYPTO: BTC) mining business as a “means to an end,” supporting its larger goal of data center development.
Riot Goes Big On Data Center Business
During Riot Platforms’ third-quarter earnings call, the CEO said the company intends to continue exploiting the opportunity Bitcoin mining offers to secure power and generate “strong cash flow.”
“We no longer see Bitcoin mining operations as the end goal, but instead as a means to an end, and that end is maximizing the value of our megawatts,” Les stated.
Les used megawatts to refer to Riot’s existing power infrastructure, which the company intends to repurpose for data centers and high-performance computing.
“Bitcoin mining continues to be a very valuable tool to monetize Riot’s large-scale portfolio of power,” he added
Les stated that Riot …
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