Today in Crypto: Riot’s AI/HPC pivot, ECB euro pilot, US dev bill

Activist investor Starboard Value urged Riot Platforms to move faster on its artificial intelligence and high-performance computing (AI/HPC) strategy; the European Central Bank (ECB) plans to begin selecting European Union-licensed payment service providers for its digital euro pilot in the first quarter of 2026, with a 12-month pilot slated for the second half of 2027; and in Washington, Coin Center called on the U.S. Senate Banking Committee to advance a bill aimed at protecting crypto software developers.

Riot Platforms urged to ramp up AI/HPC push by activist investor

An activist shareholder of Riot Platforms is pressing the crypto mining firm to accelerate its transition toward high-performance computing and artificial intelligence.

In a Wednesday letter to executives, Starboard Value, which holds about 12.7 million Riot shares, said the company could generate between $9 billion and $21 billion in equity value from AI/HPC data centers in Texas. The investor emphasized that “time is of the essence,” urging the company to finalize “more material deals” as it expands in AI and HPC.

“With 1.4 [gigawatts] of gross capacity remaining to be monetized, Riot is in an enviable position – but it must execute with excellence and urgency,” said Starboard. “We believe Riot should be able to attract high-quality tenants for tier-3 data centers with terms similar to or better than the peer transactions announced towards the end of 2025.”

“The recently announced transaction with Advanced Micro Devices […] is a positive signal and confirms our views regarding the intrinsic value of Riot’s key sites, but it is a small proof of concept deal, and we, like you, expect significantly more,” Starboard added, referring to a data center lease and services agreement disclosed in January.

ECB digital euro provider selection begins in Q1 2026

The ECB is moving closer to a digital euro pilot, with Executive Board Member Piero Cipollone outlining plans to start selecting payment service providers (PSPs) in early 2026, ahead of a 12-month test targeted for the second half of 2027.

Cipollone, speaking Wednesday at an executive committee meeting of the Italian Banking Association, said the pilot would include a limited number of PSPs, merchants and Eurosystem staff. Selection of participating providers is expected to begin in the first quarter of 2026.

According to Reuters, Cipollone said the digital euro will be designed to safeguard European card schemes and keep banks central to the Eurozone payments ecosystem.

EU-licensed PSPs will be central to digital euro distribution, Cipollone said. For participating PSPs, the pilot offers an early-readiness advantage ahead of any broader rollout, including hands-on experience with onboarding, settlement and liquidity management.

He added that it would also give companies clearer visibility into future infrastructure, compliance and staffing costs, enabling more accurate investment planning.

Crypto lobby urges Senate to push crypto dev protection bill

Crypto advocacy group Coin Center on Tuesday urged the U.S. Senate Banking Committee to advance a bill that would protect developers of crypto protocols from prosecution for their code.

A new version of the Blockchain Regulatory Certainty Act (BRCA), introduced in January by Senators Cynthia Lummis and Ron Wyden, seeks to clarify that software developers and infrastructure providers who do not control user funds are not money transmitters under federal law.

Coin Center policy director Jason Somensatto told Senate Banking that blockchain innovation is being constrained in the United States as crypto developers face threats of prosecution while being “engaged in what should universally be considered lawful activity.”

He added that the bill ensures developers can “develop the very systems that a market structure bill is designed to promote and protect,” referring to separate legislation under Senate consideration.

Somensatto argued that removing or weakening the bill would create legal uncertainty for crypto developers, potentially deterring compliant builders from operating in the U.S. and pushing them offshore.

The Senate Banking Committee has yet to mark up or vote on the latest BRCA draft.

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