Riot, a US-listed Bitcoin mining company, sold 2,201 BTC at the end of last year.
TL;DR
Riot Platforms sold 2,201 BTC in late 2023, earning nearly $200 million, reducing holdings to 18,005 BTC. This contrasts with 2024's strategy of accumulating Bitcoin, signaling a shift toward AI investments.
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According to ChainCatcher's latest production and operations report released in December, publicly traded Bitcoin mining company Riot Platforms sold a total of 2,201 BTC during November and December of last year, generating a net profit of nearly $200 million.
Riot Platforms reportedly held 18,005 BTC at the end of the year, worth approximately $1.65 billion at current prices. However, this figure represents a decrease of over 1,300 BTC from its October holdings (19,324 BTC) and is only 293 BTC higher than its year-end balance the previous year. This contrasts sharply with 2024, when the company did not sell any Bitcoin but instead added over $500 million worth of Bitcoin reserves.
Matthew Sigel, head of digital assets at VanEck, pointed out that the recent sell-off indicates the company's commitment to transitioning into the field of artificial intelligence.