Riot, a famous U.S.-based bitcoin miner, has hit the market with a shocking sale of 475 BTC in April, the first month of Q2 2025. Riot is among the institutions that have adopted a strategic bitcoin reserve, alongside MARA Holdings, Strategy, and other firms.
This marks Riot’s first major bitcoin sale since January 2024. The sale signals a move away from the firm’s 100% BTC hodl strategy.
475 BTC Gone
As revealed in the company’s latest production update, Riot mined about 463 BTC in April and sold it all. Thereafter, it sold about 12 BTC from its strategic reserve. Selling the crypto at various market prices generated approximately $38.8 million, which it used to support other important operations. Riot CEO Jason Les said about the sale:
“During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources, considering a multitude of factors and prioritizing a strong balance sheet. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock.”
Remarkably, the BTC sale puts Riot on the list of miners deviating from a 100% BTC hodl strategy to sustain itself amid the dwindling mining economy. Famous bitcoin miner, CleanSpark, also expressed similar concerns and revealed plans to gradually sell off portions of monthly mining rewards to cover expenses incurred during operation.
MARA Holdings Stand Out
Amid the global increase in hashrate and other difficulties faced by global bitcoin miners, MARA Holdings, another famous U.S.-based miner, has not sold a unit out of its BTC bag and has continued to acquire more from the open market. In April, MARA mined and boosted its stash by about 705 BTC. It now holds 48,237 BTC.
MARA has displayed unshakable confidence in the world’s leading crypto, resilience in the mining ecosystem, and an ability to manage challenges while retaining its BTC bag.
Similarly, American business intelligence firm Strategy has not stopped supporting Bitcoin. Concluding its latest purchase, the company boosted its stash by 1,895 BTC and now holds 555,450 bitcoins in total.
