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Starboard Delivers Letter to Riot Platforms

businesswire.com
RIOT Starboard Value, a significant stockholder, has delivered a letter to Riot Platforms' CEO and Chairman. The content of the letter is not detailed, but Starboard's general investment strategy involves engaging with management to unlock shareholder value. This suggests a potential for activism but no explicit positive or negative outlook on Riot's performance is provided.

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.