Riot Platforms Reduces Bitcoin Holdings

Nasdaq-listed mining company Riot Platforms mined 463 BTC in April and sold 475 BTC for $38.8 million during the month.

Riot Announces April 2025 Production and Operations Updates.

“Riot mined 463 bitcoin in April as the network experienced two successive difficulty adjustments during the month,” said @JasonLes_, CEO of Riot. “April was a significant month for Riot as we closed on the acquisition… pic.twitter.com/0cSznh5fBM

— Riot Platforms, Inc. (@RiotPlatforms) May 5, 2025

The firm sold coins from its reserve for the first time in about a year. Riot holds the fourth position in the ranking by volume of assets in the leading cryptocurrency, owning 19,211 BTC.    

“In April, we made the strategic decision to sell our monthly bitcoin production to fund growth and operations. We constantly evaluate the best sources of capital, considering numerous factors and prioritizing a strong balance sheet,” stated Riot CEO Jason Les.

He referred to the consistent increase in mining difficulty and the closing of the acquisition of Rhodium assets at the Rockdale facility.

“This transaction completes the hosting agreement with our last customer and marks Riot’s full exit from the business to focus on bitcoin mining,” noted Les.

According to him, the sale of the leading cryptocurrency reduced the need for equity capital and limited the dilution of the company’s securities.

“We will continue to constantly monitor market conditions and utilize all available tools for the most sustainable business financing, while remaining committed to a long-term bitcoin holding strategy, reflecting our strong belief in the asset’s future potential,” Les clarified.

The company’s hash rate reached 33.7 EH/s compared to 8.8 EH/s a year earlier. The energy efficiency of the fleet was 21 J/TH.

The company earned $2 million through power reduction and demand response programs during the month.

For the first quarter, Riot achieved revenue of $161.4 million. During the period, the firm mined 1,530 BTC at an average cost of $43,808 per coin.

Riot Platforms Reports First Quarter 2025 Financial Results, Current Operational and Financial Highlights. Riot Reports $161.4 million in Total Revenue and Deployed Hash Rate of 33.7 EH/s.

“Riot made strong progress on a number of key financial and strategic initiatives during… pic.twitter.com/sn5MlKPvpX

— Riot Platforms, Inc. (@RiotPlatforms) May 1, 2025

In March, CleanSpark abandoned its strategy of retaining mined bitcoins.