
The company sold $38.8 million worth of bitcoins, signaling financial challenges in the mining industry.
#Riot Platforms, one of the largest publicly traded bitcoin mining companies, sold 475 BTC in April 2025 for $38.8 million, at an average price of $81.7k per coin. The decision is due to reduced profitability following the 2024 bitcoin halving, which reduced the reward per block from 6.25 to 3.125 BTC.
The sale reflects financial difficulties in the #mining industry, where rising operating costs and declining revenues are forcing companies to sell crypto assets to maintain liquidity.
Halving has severely impacted miners such as Riot, whose businesses depend on bitcoin mining rewards to cover high #electricity and #equipment costs. Network difficulty is at record levels and power costs remain significant, which has forced Riot to bolster cash reserves.
Selling at a price below current levels may have been a forced measure to cover current needs, although it has resulted in a loss of profit. The move could indicate the company's plans to modernize or prepare for a volatile market.
Riot remains a key player in the sector, utilizing its facilities in Texas to access relatively affordable energy. Unlike competitors such as #CleanSpark, which are building capacity through loans, Riot has opted for a more conservative approach.
As the industry adapts to #post-halving realities, Riot's success will depend on optimizing costs and being able to take advantage of a possible rise in the bitcoin price. Investors and analysts are watching the company's next steps to see if this sale will be a one-time measure or part of a long-term strategy.