Riot Platforms sells 4,300 Bitcoin to fund AI data center expansion

Riot Platforms has sold 4,300 Bitcoin during its second quarter to fund its strategic pivot toward artificial intelligence infrastructure. The sale reduces the company’s treasury from 15,680 BTC to 11,380 BTC, though it remains a significant corporate holder with approximately $718 million in remaining Bitcoin value.

The capital is being directed toward expanding AI and high-performance computing data centers. A central component of this strategy is a 20-year, $9.1 billion agreement to provide 191 megawatts of power and space at its Rockdale site to the AI laboratory Anthropic. The company has also already delivered capacity for AMD.

This shift occurs amid tightening margins in the Bitcoin mining sector. Riot reported a 19% year-over-year decline in mining revenue, reaching $113.7 million for the quarter, as rising electricity costs and declining hashprices put pressure on profitability. Despite these challenges, Riot maintains strong liquidity with over $1.2 billion in total liquid assets, including $548.9 million in cash.