Riot Platforms sells 4,300 Bitcoin to finance growth

Riot Platforms, one of the world’s largest listed Bitcoin miners, is selling 4,300 Bitcoin to cover day-to-day operations and fund the expansion of its data centres. Despite the sale, the company still holds a substantial Bitcoin inventory and reports 14% year-on-year revenue growth for the second quarter of 2026.

Bitcoin is available at OKX and Bybit.

Key points:

• Riot Platforms sells 4,300 BTC and retains 11,380 Bitcoin, of which 5,821 are pledged as collateral.
• Total revenue in Q2 2026 amounts to $174.2 million, a 14% increase year on year.
• Mining revenue falls 19.3% year on year to $113.7 million, due to lower Bitcoin prices and a higher network hashrate.

Selling Bitcoin to fund expansion

Riot Platforms is using the proceeds from the sale of 4,300 BTC for operational costs and the further expansion of its data centre activities. Despite this step, the company remains a major Bitcoin holder. At the end of the second quarter of 2026, 11,380 Bitcoin remain on the balance sheet, of which 5,821 are pledged as collateral. Based on the Bitcoin price of $58.527 on 30 June 2026, that inventory represents a value of approximately $666 million. In addition, there is $548.9 million in liquid assets, of which $77.5 million is restricted.

The total liquid assets at the end of the quarter thus exceed $1.2 billion. Bitcoin now stands at $63K, which means Riot’s Bitcoin inventory is currently worth slightly more than on the reference date.

Mixed quarterly figures due to lower Bitcoin price

In the second quarter of 2026, Riot mined 1,587 Bitcoin, compared with 1,426 in the same period a year earlier. The average cost per mined Bitcoin is $49.912, excluding depreciation. That is slightly higher than the $48.992 in Q2 2025, which the company attributes to higher energy costs and the expansion of its Kentucky site.

Despite this, Bitcoin mining revenue falls 19.3% year on year to $113.7 million. The cause is a lower average Bitcoin price and an increased global hashrate, which intensifies competition among miners. Riot’s total revenue nevertheless reaches $174.2 million, thanks to strong growth in other segments. The engineering arm contributes $37.3 million, compared with $10.6 million in Q2 2025. Data centre revenue amounts to $23.2 million, consisting of $4.9 million in rental income and $18.3 million in services to tenants, Riot reports via the SEC.