Riot Platforms sold 475 Bitcoin for $38.8 million in April, including all tokens mined that month, to manage liquidity amidst declining margins in the mining sector. This sale comes after Bitcoin's April halving, which decreased miner rewards by 50% and resulted in a 13% drop in Riot's production. The company, based in Castle Rock, Colorado, stated that this strategic decision reduces reliance on equity financing and shareholder dilution. Despite maintaining a reserve of 19,211 BTC worth about $1.8 billion, rising network difficulty has put additional pressure on miners. The average mining difficulty surged to 119 trillion hashes, a 35% increase year-over-year. Although the price of Bitcoin has gained 47% in the past year, it remains below its all-time high of $109,000 set in January. Recently, overall miner sell-offs have escalated, driven by rising costs and lower Bitcoin prices, which further strains operations.

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