Bitcoin miner Riot sold 3,778 BTC during Q1 amid profitability pressures
Cointelegraph
Riot Platforms sold 3,778 Bitcoin in Q1 to cover rising operational costs driven by increased energy prices.Summary
Riot Platforms reported the sale of 3,778 Bitcoin during the first quarter at an average price of $76,626, generating $289.5 million. Despite this divestment, the company retains 15,680 Bitcoin on its balance sheet. Industry experts attribute this trend to rising energy costs, exacerbated by geopolitical tensions, which are forcing miners to sell assets to maintain operations. As less efficient miners go offline due to these pressures, the overall network hashrate and mining difficulty have declined, potentially benefiting larger, more efficient operators.
(Source：Cointelegraph)