Riot Platforms Sells 4,300 BTC Amid Growing Data Center Business

Riot Platforms, one of the largest publicly traded Bitcoin miners, sold 4,300 BTC during Q2 to fund operations and its expanding data center business.

The sale is part of Riot's effort to balance its Bitcoin mining operations with a rapidly growing data center and engineering business. Despite this, Riot still holds a substantial Bitcoin treasury of 11,380 BTC, worth close to $666 million at the June 30 price, based on Bitcoin's closing price of $58,527 that day.

Riot mined 1,587 BTC in Q2, up from 1,426 BTC during the same quarter last year. However, Bitcoin mining revenue fell 19.3% year over year to $113.7 million this quarter, a decline attributed to lower average Bitcoin prices and a rising global network hash rate.