- Riot Platforms sold 2,201 BTC across November and December, raising nearly $200 million in net proceeds.
- The company finished the year with 18,005 BTC, valued at about $1.65 billion, down from 19,324 BTC in October.
- The late-year sales contrast with 2024, when the firm sold no Bitcoin and added more than $500 million to its treasury.
- Analysts note the proceeds could help fund a move into AI data centers; a related commentary was posted on X.
- Riot describes a “power-first strategy” to convert its power portfolio into data center use, as stated in its earnings presentation.
Riot Platforms, a Colorado-based publicly traded Bitcoin miner, sold 2,201 BTC during November and December, according to its production and operations report. The firm reported nearly $200 million in net proceeds from those sales, which it said were to support ongoing growth and operations.
The company ended the year holding 18,005 BTC, worth about $1.65 billion at current prices. That total was down from 19,324 BTC in October and stood just 293 BTC above its balance at the end of the prior year.
The late-year sales mark a shift from 2024, when Riot did not sell Bitcoin and instead added more than $500 million to its holdings. Company commentary at the time said proceeds would be used to “fund ongoing growth and operations.”
Market observers have linked the recent sales to the company’s push into data-center development. Matthew Sigel noted on X that the BTC sales are roughly equal to the capital expenditure guided for the first 112 MW core/shell build at Corsicana and wrote that the move could fund the initial phase of an AI data-center pivot; his comment was posted on X.
Riot has described a “power-first strategy” in its earnings presentation, saying BTC mining is a “tool to monetize Riot’s large-scale power portfolio in advance of data center development.” The firm intends to convert its megawatts to data center use over time.
Other publicly traded miners are making similar shifts. Firms such as CleanSpark and MARA have signaled strategic moves toward data centers, Bitfarms has said it will wind down BTC mining to focus on AI, and Cipher Mining and Hut 8 have announced large AI deals backed by Google. Shares of RIOT rose 1.3% on the day and were up over 23% in six months, trading at $14.98; Bitcoin recently traded around $92,773.
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