Shedding Bitcoin Holdings: Riot Corp. Offloads More Cryptocurrency Than Mined in April
Riot Ditches the 100% HODL Strategy, Sells 475 Bitcoin in April 2025
Riot Platforms took a significant leap away from its traditional 100% Bitcoin hoarding stance in April 2025, selling a whopping 475 BTC. This move signified a tactical decision aimed at supporting growth, while still maintaining confidence in Bitcoin's long-term value.
The sale comprised all 463 BTC mined during the month and an additional 12 BTC from the reserves, raking in around $38.8 million at an average price of $81,731 per coin. According to the company's announcement, this was their first substantial sale since January 2024, with the objective of prioritizing operational funding and minimizing shareholder dilution.
The ceo, Jason Les, explained that this strategic decision to sell monthly production was a smart move for growth while retaining trust in Bitcoin's future worth. The drop in production by 13% compared to the previous month was attributable to two consecutive Bitcoin network difficulty increases. However, the production still saw a 23% increase year-over-year.
Despite selling a chunk of its Bitcoin reserves, Riot's bitcoin hoard remained steady at over 19,200 BTC. The company profitably earned $2 million in power-related credits and managed to keep electricity costs at a reasonable 3.7 cents per kWh.
A Game-Changer: The Rhodium Acquisition
April 2025 also marked a turning point for Riot as it finalized the acquisition of Rhodium's assets at its Rockdale facility. This brought an end to Riot's hosting agreement and fully transitioned them to a self-mining business model.
Riot's strategic monetization approach strikes a balance between selling Bitcoin to fund operations and maintaining substantial reserves. Post-April 2025 Bitcoin sale, Riot will evaluate its funding strategies based on market conditions, aiming for a balance between sustainable growth and maintaining its long-term Bitcoin holding strategy.
'I Couldn't Care Less': Trump's Comment on Crypto Value
Meanwhile, former president Donald Trump stated that he hasn't bothered to check the worth of his cryptocurrency assets, highlighting the disparity between traditional finance and the rapidly evolving digital currency sphere.
- Riot Platforms, in April 2025, moved away from its complete Bitcoin hoarding strategy by selling 475 BTC.
- This substantial sale raked in approximately $38.8 million, with an average price of $81,731 per coin.
- With the sale, Riot still retained a significant Bitcoin hoard of over 19,200 BTC.
- The CEO, Jason Les, explained that this strategic decision aimed for growth while remaining convinced of Bitcoin's long-term value.
- In addition to the sale, Riot finalized the acquisition of Rhodium's assets in April 2025, transitioning to a self-mining business model.
- Investors should expect Riot to consider its funding strategies based on market conditions, balancing sustainable growth with maintaining its Bitcoin holding strategy.
- Former President Donald Trump, amid the crypto boom, expressed indifference towards the value of his cryptocurrency assets, highlighting the contrast between traditional finance and the burgeoning digital currency realm.
