Riot Platforms Breaks Its 15-Month Streak of Holding All Mined Bitcoin, Selling 475 BTC in April 2025

Riot Platforms has sold bitcoin for the first time in over a year, signaling a strategic pivot in response to tightening mining economics.

Riot Platforms, a major bitcoin miner, has sold some of its holdings for the first time in 15 months, signaling a strategic pivot amid tightening bitcoin mining margins.

In April, Riot sold a total of 475 BTC, including 463 coins mined during the month and an additional 12 BTC from its treasury, realizing an income of approximately $38.8 million, according to its latest earnings report.

This marks the end of Riot’s 15-month streak of a 100% HODL strategy and aligns it with other major mining firms, like Cleanspark, which have been adjusting to the post-halving environment by liquidating monthly bitcoin production to cover costs.

However, not all miners are following suit. For instance, Marathon Digital, the largest public bitcoin miner in April with 705 BTC produced, continues to fund its operations through external financing methods and has yet to sell any of its mined bitcoin.

Riot's new strategy also includes securing a $100 million bitcoin-backed credit facility with Coinbase, further diversifying its funding options. As of April 30, Riot still holds 19,211 BTC, highlighting its significant long-term exposure to cryptocurrency even as it adapts to a more challenging revenue environment.

Earlier this year, several bitcoin miners began to adjust their strategies in response to the changing market dynamics. Cleanspark announced plans to liquidate its monthly bitcoin production to offset rising expenses.

Additionally, Luxena announced the sale of a portion of its bitcoin holdings to support administrative expenses. As of March 31, Luxena’s bitcoin holdings stood at 259 coins, down from 350 coins at the end of 2023.