Riot Platforms stock climbed Thursday on a report that activist investor Starboard Value had taken a stake in the Bitcoin mining company. Shares of Riot Platforms rose 10% to $12.95, though they traded as high as $13.

Starboard is in discussions with Riot's management to potentially covert some of its facilities into data centers, the Journal reported.

Activist investor Starboard Value has built a significant position in Riot Platforms and is pushing for changes at the bitcoin-mining operator, according to people familiar with the matter. Riot, based in Castle Rock,

Activist investor Starboard Value has made a large investment in bitcoin miner Riot Platforms (RIOT) and is pushing for changes in the company's business model, The Wall Street Journal reported, citing people familiar with the matter.