Riot Platforms Nets $289.5M Selling 3,778 BTC, Boosts Hashrate 26%
Riot Platforms sold 3,778 Bitcoin for $289.5 million in Q1, reducing its holdings to 15,680 coins, an 18% year-over-year drop. The company mined 1,473 BTC (down 4%), grew hash rate by 26%, cut power costs to 3.0¢/kWh, earned $21.0 million in power credits and is funding an AI/HPC pivot.
1. Bitcoin Sales and Holdings
Riot Platforms sold 3,778 Bitcoin in the first quarter, generating $289.5 million in proceeds and reducing its treasury to 15,680 coins, down 18% from the end of 2025.
2. Mining and Hashrate Performance
The company mined 1,473 BTC, a 4% decrease year-over-year, while deployed hash rate climbed 26% to 42.5 EH/s and average operating hash rate rose 23% to 36.4 EH/s by quarter-end.
3. Cost and Power Credits
Riot earned $21.0 million in power credits, up 171% from Q1 2025, as total power costs fell 21% to 3.0 cents per kilowatt-hour and fleet efficiency improved to 20.2 J/TH.
4. AI and HPC Expansion
Management is selling Bitcoin to fund a pivot into AI data centers and high-performance computing, including an initial infrastructure deal with AMD at its Rockdale facility.