Riot sells $162 million in bitcoin as mining hashprice slumps back toward lows

Riot Platforms sold 1,818 BTC in December for $161.6 million, marking its largest single-month sale to date and reducing its treasury to 18,005 BTC. This liquidation occurred as the bitcoin hashprice, a measure of mining revenue, traded near cycle lows, indicating severe compression in mining profitability. Despite the sale, Riot increased its deployed hashrate to an average of 38.5 exahashes per second. The company also reset its at-the-market equity offering to allow for up to $500 million in potential share sales. Riot announced this December update will be its final monthly disclosure, shifting to quarterly reports. Other miners, like CleanSpark, also engaged in sales during December.

(Source：The Block)