May 5, 2025

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Riot Platforms Selling Bitcoin

Publicly traded Bitcoin mining company, Riot Platforms, has just initiated a transfer of ~99 BTC worth $9.29M over two transactions to NYDIG, an institutional custody and trading platform.

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Riot Platforms entity on Arkham

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Publicly traded Bitcoin mining company, Riot Platforms, has just initiated a transfer of ~99 BTC worth $9.29M over two transactions to NYDIG, an institutional custody and trading platform. These transactions likely mark the beginning of several more transactions to sell off some or all of their mined Bitcoin for profit.

Transfers of Bitcoin out of Riot Platforms’ addresses to NYDIG’s Execution Wallet

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In April, they had announced a sale of 475 BTC, worth $38.8M then, consisting of 463 BTC mined in April and 12 BTC from their reserves. These were also sent to NYDIG in a series of transactions similar to the ones seen today. Nevertheless, Riot Platforms still holds 6,598 BTC worth $622.9M on their publicly identified wallets as part of their Bitcoin treasury strategy.

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