Riot Platforms appoints new Chief Data Center Officer

CASTLE ROCK, Colo. - Riot Platforms, Inc. (NASDAQ: RIOT), a $2.88 billion market cap Bitcoin mining operation currently trading at $8.07, announced today the appointment of Jonathan Gibbs as its Chief Data Center Officer. Gibbs is tasked with spearheading the strategic development and operations of Riot’s new data center platform, aimed at serving hyperscale and enterprise tenants. According to InvestingPro data, the company has demonstrated strong revenue growth of 60% over the last twelve months.

This move aligns with Riot’s strategy to diversify its revenue streams beyond Bitcoin-related activities by leveraging its existing assets to enter the high-demand digital infrastructure market. The company aims to capitalize on the increasing need for cloud computing, AI, and other compute-intensive applications. With a healthy current ratio of 3.23, Riot appears well-positioned to fund its expansion plans. For deeper insights into Riot’s financial health and growth potential, check out the comprehensive research report available on InvestingPro.

Jonathan Gibbs brings over 15 years of experience in the design and construction of large-scale data centers, with a past portfolio that includes more than one gigawatt of capacity across North America, Europe, and Asia. His prior role as Executive Vice President of Product Delivery at Prime Data Centers involved leading the development of several data centers in the United States.

"We are excited to bring Jonathan on as Chief Data Center Officer to lead our new platform," said Jason Les, CEO of Riot. "With a pipeline of over 1.7 gigawatts of power immediately available and in close proximity to major markets, Riot is uniquely positioned to develop data centers which will address the strong market demand." Analysts share this optimism, with price targets ranging from $9 to $22 per share, suggesting potential upside from current levels.

Gibbs also expressed enthusiasm for his new role, noting Riot’s unique development expertise and asset portfolio as key factors in his decision to join the company.

Riot Platforms, Inc. is a Bitcoin mining and digital infrastructure company that operates in central Texas and Kentucky, with electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas. The company’s vision is to be a leading Bitcoin-driven infrastructure platform. InvestingPro analysis indicates the company maintains a Fair financial health rating, with particularly strong scores in relative value metrics despite recent market volatility.

The information in this article is based on a press release statement from Riot Platforms, Inc.

In other recent news, Riot Platforms reported a notable revenue achievement for Q1 2025, surpassing forecasts with $161.4 million against an expected $157.9 million. Despite this revenue success, the company faced a net loss of $296.4 million, reflecting mixed investor reactions. Riot Platforms mined 463 Bitcoin in April 2025, a 23% increase from the previous year, although it was a decrease from the previous month. The company also sold 475 Bitcoin, generating $38.8 million in net proceeds as part of its strategy to fund growth and operations. Riot’s Bitcoin holdings rose significantly year-over-year, and the company maintained a steady hash rate capacity. Additionally, Riot Platforms completed the acquisition of tangible assets from Rhodium, marking its exit from the Bitcoin mining hosting business. The company is also advancing its strategic shift towards AI data centers, with plans to develop at its Corsicana facility, as highlighted by CEO Jason Less. Meanwhile, cryptocurrency-related stocks, including Riot Platforms, experienced a decline following Moody’s downgrade of the U.S. credit rating, reflecting broader market risk aversion.

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