Bitcoin Miner Riot Platforms Sells Over $250 Million Worth of BTC
Riot Platforms sold 3,778 Bitcoin in Q1 2025 for over $250 million, reducing its holdings to 15,680 BTC, valued around $1.04 billion. The company has now sold Bitcoin for two consecutive quarters, following similar moves by competitors like Bitfarms and MARA, all aiming to raise capital as they pivot into the AI sector and high-performance computing. Riot’s recent business strategy prioritizes reallocating its nearly two-gigawatt power portfolio from Bitcoin mining toward data center development to support AI infrastructure, a shift expected to drive significant shareholder value. Previous statements indicate Bitcoin sales have funded ongoing growth and operations, with long-term goals centered on fully using their power resources for data centers. An activist investor has suggested accelerating this transition could unlock up to $21 billion in valuation. Riot’s shares rose 2.47% on Thursday but have fallen over 33% in six months as Bitcoin prices have declined from their peak.
