⬛U.S.-based miner Riot Platforms has sold a portion of its mined bitcoins for the first time since January 2024, directing the $38.8 million in proceeds toward operational expenses and growth initiatives. This move aims to reduce reliance on stock issuance and, according to CEO Jason Les, minimize shareholder dilution. The sale coincided with the company’s exit from the hosting business and the resolution of legal disputes.
⬛Amid rising mining costs — which have reached an average of $82,000 per BTC in the U.S. — Riot continues to hold over 19,000 bitcoins, maintaining its position among the top four publicly traded bitcoin holders. While its competitor MARA sticks to a full-retention strategy, a new player is emerging on the horizon — the Twenty One fund, with an impressive reserve of 31,500 BTC.