🚀 RIOT PLATFORMS SOLD 475 BTC UNDER POST-HALVING PRESSURE - WARNING OF DIFFICULTIES FOR THE BITCOIN MINING INDUSTRY

🟢 As the second largest Bitcoin mining company in the world, Riot Platforms just sold all of the BTC mined in April – 463 BTC, plus 12 BTC from reserves, totaling 475 BTC, worth approximately 38.8 million USD.

🟢 This move shows that post-halving financial pressure is immense, as the block reward has decreased to 3.125 BTC, while mining difficulty continues to rise. Despite no change in mining capacity, Riot's output decreased by 13% compared to the previous month.

⭐ CEO Jason Les shared:

🟢 "Selling BTC helps us maintain operations and limit dilution of shareholder equity."

🟢 Riot currently holds 19,211 BTC (worth approximately 1.8 billion USD). However, data from Arkham suggests that the company may continue selling BTC in May, after transferring an additional 6.7 million USD worth of BTC to NYDIG.

🟢 Previously, Riot also borrowed 100 million USD from Coinbase Credit with Bitcoin as collateral – a move that clearly reflects liquidity pressure even though the price of BTC is around ~94,000 USD.

🟢 $RIOT stocks are also not immune to the impact – down 5.84%, now at 7.9 USD/share.

➡️ The Bitcoin mining industry is entering a brutal cleansing phase – who will survive after the halving storm?

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