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  "documentTitle": "Riot Platforms, Inc. (RIOT)",
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  "authorName": "Peter A. Feld",
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  "presentationDate": "2026-02-18 00:00:00",
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      "text": "We believe Riot is on its way to a transformation from a bitcoin miner to a best-in-class AI/HPC data center company.",
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      "text": "We have enjoyed our consistent and constructive engagement to-date, and we look forward to continuing to work with you to create substantial value for the Company and its shareholders.",
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      "text": "We believe Riot is on its way to a transformation from a bitcoin miner to a best-in-class AI/HPC data center company. With the Company already more than a year into its journey and peers executing in a dynamic and opportunistic environment, time is of the essence.",
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      "text": "Sincerely, Peter A. Feld, Managing Member, Starboard Value LP",
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      "text": "Noncash charges associated with [Riot's 2024] onetime grant of approximately $25 million per quarter will drop to approximately $8 million in Q3 2026 and thereafter roll off entirely, significantly reducing noncash stock-based compensation. — Jason Chung, Riot's incoming CFO",
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