Riot Platforms sells 475 Bitcoin in April as mining costs rise

Riot Platforms ended its 15-month streak of holding all mined Bitcoin (CRYPTO:BTC) by selling 475 BTC in April 2025, generating about $38.8 million to support operations and growth.

The sale included 463 newly mined coins and 12 BTC from reserves, marking the company’s largest single-month liquidation since its founding.

“We made the strategic decision to sell our monthly production of Bitcoin to fund ongoing growth and operations. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock,” CEO Jason Les explained.

The move reflects a broader shift among miners facing tighter margins after the recent Bitcoin halving and successive increases in mining difficulty, which rose 8% between March and April to a record high.

Riot’s Bitcoin production in April dropped 13% from the previous month, down to 463 BTC, as network adjustments made mining more challenging.

Despite the sale, Riot retained a substantial reserve of 19,211 BTC at the end of April.

The company also secured a $100 million Bitcoin-backed credit facility from Coinbase, diversifying its funding sources and maintaining operational flexibility.

Riot’s decision aligns it with other miners such as Cleanspark, which have also begun selling monthly production, while some peers like Marathon Digital continue to hold mined Bitcoin and use external financing.

Riot’s approach signals adaptation to industry pressures and a focus on maintaining a strong balance sheet without diluting shareholder value.

“We continuously evaluate the best funding sources considering a multitude of factors and prioritising a strong balance sheet,” Les stated.

At the time of reporting, the Bitcoin (BTC) price was $96,556.62.