Publicly listed mining company Riot Platforms breaks the norm! In April, it sold 475 Bitcoins, ending a record of over a year of holding without selling.

One of the world's largest publicly listed Bitcoin mining companies, Riot Platforms, announced on Monday that it sold the Bitcoin it mined in April, marking the company's first sale of self-mined Bitcoin in over a year.

Reports indicate that Riot sold 475 Bitcoins in April, realizing a net income of approximately $38.8 million. This includes 463 Bitcoins mined that month and an additional 12 from reserves. The last time Riot made a large-scale sale of Bitcoin was in January 2024.

Riot CEO Jason Les stated in a press release:

"We will continue to assess the best sources of capital based on various factors and prioritize maintaining a strong balance sheet. This sale reduced the need for fundraising through stock issuance and also lessened the degree of shareholder dilution."

As of May 5, Riot holds 19,211 Bitcoins, making it the second largest publicly traded Bitcoin holder in the world, second only to Strategy (MicroStrategy) and another mining company, MARA Holdings.

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