Riot Sold 79% of Its $BTC. Here’s Why
Riot Platforms, one of the largest public $BTC miners, sold 10,599 BTC in the third quarter. Its Bitcoin reserves have dropped by almost 79% since the end of June, when it held 11,380 BTC ⛏
This isn’t a panic sale. Riot has been moving away from pure mining and into AI data centers, where contracts are longer and margins are higher. Selling Bitcoin is one of the ways it funds that transition. Earlier this year, the company already sold 3,778 BTC in Q1 and 4,300 BTC in Q2.
Riot isn’t alone either: miners like MARA and Core Scientific have also sold large parts of their BTC this year as they shift toward AI and HPC 🤖
At the same time, companies like Strategy, Tether and Strive keep buying. So while some of the biggest Bitcoin producers are selling, the biggest treasuries are stacking
#BTC Price Analysis #Bitcoin Price Prediction: What is Bitcoins next move?
Riot Platforms, one of the largest public $BTC miners, sold 10,599 BTC in the third quarter. Its Bitcoin reserves have dropped by almost 79% since the end of June, when it held 11,380 BTC ⛏
This isn’t a panic sale. Riot has been moving away from pure mining and into AI data centers, where contracts are longer and margins are higher. Selling Bitcoin is one of the ways it funds that transition. Earlier this year, the company already sold 3,778 BTC in Q1 and 4,300 BTC in Q2.
Riot isn’t alone either: miners like MARA and Core Scientific have also sold large parts of their BTC this year as they shift toward AI and HPC 🤖
At the same time, companies like Strategy, Tether and Strive keep buying. So while some of the biggest Bitcoin producers are selling, the biggest treasuries are stacking
#BTC Price Analysis #Bitcoin Price Prediction: What is Bitcoins next move?
