Riot Platforms Increased Bitcoin Sales, Offloading $200 Million in Two Months
- Riot Platforms sold a total of 2,201 BTC for approximately $198.6 million in November and December.
- The company’s bitcoin balance decreased to 18,005 BTC by the end of the year.
- Matthew Sigel from VanEck noted that the amount sold aligns with Riot’s capital expenditure plans for AI infrastructure development.
- Riot shares fell by 2% on the same day as bitcoin retreated by 1.2% to $92,500.
The increase in sales may reflect a strategy to fund new projects, particularly in AI, as miners often sell BTC during tighter credit conditions. This trend could also contribute to fluctuations in bitcoin‘s market performance.
In total, Riot Platforms offloaded over $198 million worth of bitcoin while reducing its holdings significantly before year-end.(Source)
