Riot Platforms, a prominent Bitcoin miner, sold 475 BTC last month for approximately $38.8 million to bolster its liquidity amid challenges in the mining sector. This strategic move comes after Bitcoin's April 2024 halving, which halved miner rewards, resulting in a 13% decrease in Riot's monthly production. The company, which mined 463 of the sold Bitcoins and drew 12 from its reserves, now holds a total of 19,211 BTC valued at about $1.8 billion. The CEO, Jason Les, stated that selling the monthly production reduces reliance on equity financing, thus limiting shareholder dilution. The mining sector faces increasing pressures from rising network difficulties and lower Bitcoin prices, straining profit margins. Riot's decision reflects a broader trend among Bitcoin miners, who are selling more coins to sustain operations as they navigate increased energy costs and infrastructure challenges. Despite a recent price surge, Bitcoin remains below its all-time high, compelling miners to adjust their strategies accordingly.

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