Riot Platforms Shifts Strategy: Sells 475 Bitcoin in April 2025
Riot Platforms made a significant move in April 2025 by selling 475 Bitcoin. This decision marks a change from its previous strategy of holding 100% of its mined Bitcoin.
The sale included all 463 BTC mined in April adn 12 from its reserves. It generated about $38.8 million, with an average price of $81,731 per coin. This is Riot’s first major sale as January 2024.
CEO Jason Les explained that this move is a strategic decision. The company aims to support its growth by selling monthly production while still believing in Bitcoin’s long-term value.
Riot mined 463 BTC in April, a 13% drop from March due to two consecutive network difficulty increases.However, production was up 23% year-over-year. The company’s hash rate stayed at 33.7 EH/s, with an average operating hash rate of 29.3 EH/s.
April also saw Riot finalize the acquisition of Rhodium’s assets. This move ended its hosting agreement and shifted to a self-mining model. Despite the sale, Riot’s Bitcoin holdings remain stable at over 19,200 BTC.
Riot earned $2 million in power-related credits and kept low power costs at 3.7 cents per kWh. The company will keep evaluating funding strategies based on market conditions.
