Riot Platforms Shakes Up Strategy: Sells 475 Bitcoin in April 2025!

Hang onto your hats, crypto fans! Riot Platforms just pulled off a major move, selling a whopping 475 Bitcoin in April 2025. This isn't just any sale; it's a total departure from their long-held 100% Bitcoin holding strategy. Talk about a game-changer!

They didn't just dip their toes in the water either. Riot sold all 463 BTC they mined that month, plus an extra 12 from their reserves. That's right, they cashed in big time, raking in around $38.8 million at an average price of $81,731 per coin. Cha-ching!

This is the first big sale Riot's made since January 2024, and it's all part of their new plan to fund operations and keep equity dilution to a minimum. They're not messing around!

CEO Jason Les himself said this move was a "strategic decision" to sell their monthly production to fuel growth while still believing in Bitcoin's long-term value. It's like they're playing chess while everyone else is playing checkers!

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 Jason Les, CEO of Riot. "April was a significant month for Riot as we closed on the acquisition..."

Despite the network throwing two difficulty increases at them, Riot still managed to mine 463 BTC in April. That's a 13% drop from March, but hey, they're still up 23% from last year. Their hash rate stayed steady at 33.7 EH/s, while the average operating hash rate dipped just a bit to 29.3 EH/s. Not too shabby!

Riot and Rhodium

But wait, there's more! April wasn't just about selling Bitcoin. Riot also finalized the acquisition of Rhodium's assets at their Rockdale facility. That's right, they're done with hosting agreements and are now all in on self-mining. It's a whole new ball game for Riot!

Even with the big sale, Riot's Bitcoin stash stayed strong at over 19,200 BTC. They're still accumulating over time, and they even scored $2 million in power-related credits while keeping their power costs low at just 3.7 cents per kWh. Talk about efficiency!

Riot's not stopping there. They're keeping their eyes on the market and will keep tweaking their funding strategies to balance sustainable growth with their long-term Bitcoin holdings. It's clear they're in it for the long haul, and they're not afraid to shake things up to get there!