$BTC Sales Fund Riot Platforms' Data Center Expansion

Riot Platforms, one of the largest publicly traded $BTC mining companies, has taken a significant step to fund its operations and expand its data center business. The company sold 4,300 $BTC during the second quarter of 2026, which is worth approximately $249 million based on Bitcoin's closing price of $58,527 on June 30, 2026.

Riot held 11,380 $BTC as of June 30, 2026, including 5,821 BTC pledged as collateral. The company continues to sell a portion of its monthly Bitcoin production to support its business operations and fund the equity component of its data center capital expenditures.

During the second quarter, Riot mined 1,587 $BTC at an average production cost of $49,912 per Bitcoin, excluding depreciation. However, the company's Bitcoin mining revenue declined 19.3% year-over-year to $113.7 million due to lower average Bitcoin prices and a higher global Bitcoin network hash rate.

Despite the decline in mining revenue, Riot's total quarterly revenue increased 14% year-over-year to $174.2 million, which includes $23.2 million from its expanding data center business. The company has over $1.2 billion in liquid assets, including its Bitcoin holdings and $548.9 million in cash.

Riot's strategy represents a shift in how the company utilizes its Bitcoin treasury to finance the expansion of its large-scale artificial intelligence (AI) and high-performance computing (HPC) data centers. The company has increasingly sought to use its existing infrastructure and power capacity for data center operations, which is expected to generate approximately $9.1 billion in total contract revenue over its initial term.