Riot Platforms Liquidates 3,778 Bitcoin in Q1 as Production Falters
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Riot Platforms liquidated 3,778 BTC in Q1, selling at an average price of $76,626 per coin for total proceeds of about $289.5M. Company cites rising energy costs and faltering production that erode mining profitability and cash flow, prompting the sale. Signals broader mining-sector stress with negative implications for Bitcoin miner economics and crypto/mining investment sentiment.
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Riot Platforms offloaded 3,778 Bitcoin in the first quarter amid mounting pressure across the mining industry as rising energy costs continue to erode profitability. According to its operational update released Thursday, the company achieved an average selling price of $76,626 per coin, generating total proceeds of approximately $289.5 million.
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In This News
Coins
$ 62.88K
-1.19%$ 0.0022
-8.49%Predictions Markets
See what traders are focused on
Share:
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