Riot Platforms offloads $161M in Bitcoin in December amid strategy shift
The Bitcoin miner sold 1,818 BTC and said it will end monthly production updates as it shifts toward a broader data center and infrastructure strategy.
Riot Platforms sold 1,818 Bitcoin in December for $161.6 million at an average net price of $88,870, as part of a strategy shift from Bitcoin mining to monetizing its power and data center infrastructure, including support for artificial intelligence workloads, the company said Tuesday.
As of Dec. 31, the company held 18,005 Bitcoin (BTC), including 3,977 restricted BTC, down from 19,368 Bitcoin at the end of November, while producing 460 Bitcoin during the month.
Restricted Bitcoin refers to BTC that the company owns but has pledged as collateral under its debt facilities and holds in a segregated custody account, according to its regulatory filings.